Uniti Group (NASDAQ:UNIT) Upgraded at Wall Street Zen

Uniti Group (NASDAQ:UNIT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other brokerages have also recently commented on UNIT. Wells Fargo & Company reduced their target price on shares of Uniti Group from $7.50 to $7.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Zacks Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. started coverage on Uniti Group in a research report on Thursday, October 23rd. They set a “neutral” rating and a $7.00 price objective for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a report on Monday, December 29th. Finally, Barclays reaffirmed a “positive” rating and set a $7.00 price target on shares of Uniti Group in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.86.

Uniti Group Price Performance

Shares of Uniti Group stock opened at $7.51 on Friday. The firm’s fifty day simple moving average is $6.85 and its 200-day simple moving average is $6.26. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 1.47 and a beta of 1.45. Uniti Group has a 12 month low of $5.30 and a 12 month high of $12.34.

Institutional Trading of Uniti Group

Institutional investors have recently added to or reduced their stakes in the stock. King Street Capital Management L.P. increased its holdings in Uniti Group by 36.4% in the second quarter. King Street Capital Management L.P. now owns 6,000,000 shares of the real estate investment trust’s stock valued at $25,920,000 after buying an additional 1,600,000 shares in the last quarter. SG Americas Securities LLC increased its stake in Uniti Group by 2,208.3% in the 4th quarter. SG Americas Securities LLC now owns 995,163 shares of the real estate investment trust’s stock valued at $6,976,000 after purchasing an additional 952,050 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Uniti Group by 36.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 3,290,053 shares of the real estate investment trust’s stock valued at $14,213,000 after purchasing an additional 880,394 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Uniti Group by 23.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock worth $23,207,000 after purchasing an additional 877,911 shares during the last quarter. Finally, Bracebridge Capital LLC boosted its position in Uniti Group by 33.0% during the second quarter. Bracebridge Capital LLC now owns 3,234,638 shares of the real estate investment trust’s stock worth $13,974,000 after purchasing an additional 802,600 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.

About Uniti Group

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.