Uniti Group (NASDAQ:UNIT) Downgraded by Wall Street Zen to Sell

Uniti Group (NASDAQ:UNIT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other equities research analysts have also recently weighed in on the company. 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. began coverage on Uniti Group in a report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 target price on the stock. Barclays set a $8.00 price target on shares of Uniti Group in a report on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th. Finally, Wells Fargo & Company lowered 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 research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.06.

Uniti Group Stock Up 10.6%

NASDAQ UNIT opened at $8.32 on Friday. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 1.63 and a beta of 1.45. Uniti Group has a twelve month low of $5.30 and a twelve month high of $12.34. The stock has a fifty day simple moving average of $7.11 and a 200 day simple moving average of $6.48.

Institutional Trading of Uniti Group

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Uniti Group by 38.9% during the fourth quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock worth $162,651,000 after acquiring an additional 6,494,001 shares in the last quarter. King Street Capital Management L.P. raised its holdings in shares of Uniti Group by 36.4% during 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 purchasing an additional 1,600,000 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Uniti Group by 23.6% during the 1st 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 in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of 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 buying an additional 880,394 shares during the period. Finally, Bracebridge Capital LLC grew its stake in shares of Uniti Group by 33.0% in the 2nd quarter. Bracebridge Capital LLC now owns 3,234,638 shares of the real estate investment trust’s stock valued at $13,974,000 after buying an additional 802,600 shares during the period. Institutional investors own 87.51% of the company’s stock.

Uniti Group Company Profile

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.