Uniti Group Inc. (NASDAQ:UNIT) Receives $7.86 Consensus Price Target from Brokerages

Uniti Group Inc. (NASDAQ:UNIT) has been assigned a consensus rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $7.86.

A number of brokerages recently commented on UNIT. Barclays set a $8.00 price target on Uniti Group in a research note on Thursday, January 29th. Wall Street Zen downgraded Uniti Group from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Zacks Research cut Uniti Group from a “hold” rating to a “strong sell” rating in a report on Thursday. Wells Fargo & Company raised their target price on shares of Uniti Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th.

Uniti Group Stock Performance

Shares of NASDAQ UNIT opened at $8.05 on Friday. The company has a market cap of $1.19 billion, a P/E ratio of 2.13 and a beta of 1.50. Uniti Group has a 52-week low of $5.30 and a 52-week high of $11.73. The firm’s fifty day moving average is $7.71 and its two-hundred day moving average is $6.84.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data 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). Uniti Group had a net margin of 55.60% and a negative return on equity of 2.52%. The company had revenue of $917.30 million for the quarter, compared to the consensus estimate of $909.44 million. During the same period last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 212.8% on a year-over-year basis. As a group, analysts forecast that Uniti Group will post 1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Uniti Group

A number of institutional investors and hedge funds have recently made changes to their positions in UNIT. Allworth Financial LP raised its position in shares of Uniti Group by 775.7% during 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 purchased a new position in Uniti Group in the fourth quarter worth about $40,000. Osaic Holdings Inc. increased its stake in Uniti Group by 20.6% during the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,795 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Uniti Group during the fourth quarter worth approximately $72,000. Finally, FNY Investment Advisers LLC purchased a new stake in Uniti Group during the third quarter valued at approximately $75,000. 87.51% of the stock is owned by hedge funds and other institutional investors.

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.