Uniti Group (NASDAQ:UNIT) Price Target Raised to $8.00

Uniti Group (NASDAQ:UNIT) had its price objective boosted by Wells Fargo & Company from $7.00 to $8.00 in a research note released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

UNIT has been the subject of several other research reports. Raymond James Financial restated a “strong-buy” rating and issued a $11.00 price target on shares of Uniti Group in a research report on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. Barclays set a $8.00 target price on Uniti Group in a report on Thursday, January 29th. Finally, Wall Street Zen cut Uniti Group from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.86.

Uniti Group Trading Down 0.1%

NASDAQ UNIT opened at $8.05 on Thursday. Uniti Group has a 1 year low of $5.30 and a 1 year high of $11.73. The company has a market cap of $1.19 billion, a PE ratio of 2.13 and a beta of 1.50. The stock’s 50-day moving average price is $7.71 and its two-hundred day moving average price is $6.84.

Uniti Group (NASDAQ:UNIT) last announced its earnings results on Monday, March 2nd. The real estate investment trust reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.73). The firm had revenue of $917.30 million during the quarter, compared to analyst estimates of $909.44 million. Uniti Group had a negative return on equity of 2.52% and a net margin of 55.60%.The business’s quarterly revenue was up 212.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. Research analysts forecast that Uniti Group will post 1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp lifted its stake in shares of Uniti Group by 12.5% in the 4th quarter. Mackenzie Financial Corp now owns 12,202 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 1,352 shares during the last quarter. Savant Capital LLC increased its position in Uniti Group by 2.6% during the second quarter. Savant Capital LLC now owns 63,592 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 1,601 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Uniti Group by 2.0% during the second quarter. Daiwa Securities Group Inc. now owns 84,017 shares of the real estate investment trust’s stock valued at $363,000 after buying an additional 1,629 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of 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 worth $46,000 after buying an additional 1,795 shares during the last quarter. Finally, Journey Strategic Wealth LLC lifted its position in shares of Uniti Group by 11.1% in the second quarter. Journey Strategic Wealth LLC now owns 19,236 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 1,924 shares during the last quarter. 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.