Uniti Group (NASDAQ:UNIT) Upgraded by Wall Street Zen to “Hold” Rating

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

UNIT has been the subject of a number of other reports. Barclays set a $8.00 price objective on Uniti Group in a research report on Thursday, January 29th. Wells Fargo & Company reduced their price objective on shares of Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Uniti Group presently has an average rating of “Hold” and a consensus target price of $7.06.

Uniti Group Stock Up 3.2%

Shares of Uniti Group stock opened at $8.58 on Friday. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 1.68 and a beta of 1.47. Uniti Group has a twelve month low of $5.30 and a twelve month high of $12.34. The company’s fifty day moving average is $7.60 and its 200 day moving average is $6.76.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of Uniti Group by 775.7% during the second quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 6,919 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Uniti Group in the 4th quarter worth $40,000. Osaic Holdings Inc. grew its position in Uniti Group by 20.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,795 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Uniti Group during the 4th quarter valued at $72,000. Finally, FNY Investment Advisers LLC bought a new stake in Uniti Group during the 3rd quarter valued at $75,000. 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.