Brokerages Set Uniti Group Inc. (NASDAQ:UNIT) Price Target at $7.06

Uniti Group Inc. (NASDAQ:UNIT) has earned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $7.06.

Several equities analysts recently commented on the stock. Wells Fargo & Company cut 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. Weiss Ratings restated a “hold (c-)” rating on shares of Uniti Group in a report on Monday, December 29th. Wall Street Zen cut shares of Uniti Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Barclays set a $8.00 target price on Uniti Group in a research report on Thursday, January 29th. Finally, JPMorgan Chase & Co. assumed coverage on Uniti Group in a report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price target for the company.

Institutional Investors Weigh In On Uniti Group

A number of institutional investors have recently bought and sold shares of the business. Allworth Financial LP raised its stake in shares of Uniti Group by 775.7% in the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 6,919 shares in the last quarter. Hilton Head Capital Partners LLC bought a new stake in Uniti Group in the fourth quarter valued at about $40,000. Osaic Holdings Inc. increased its stake in Uniti Group by 20.6% in the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,795 shares during the period. QRG Capital Management Inc. acquired a new position in Uniti Group in the second quarter worth about $68,000. Finally, FNY Investment Advisers LLC bought a new position in Uniti Group during the third quarter worth about $75,000. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Stock Up 0.6%

Shares of UNIT stock opened at $8.18 on Monday. Uniti Group has a 12 month low of $5.30 and a 12 month high of $12.34. The firm has a market cap of $1.21 billion, a PE ratio of 1.60 and a beta of 1.47. The stock has a 50 day moving average of $7.38 and a 200-day moving average of $6.65.

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.