Uniti Group Inc. (NASDAQ:UNIT) Receives $8.60 Consensus PT from Brokerages

Uniti Group Inc. (NASDAQ:UNIT) has been given an average recommendation of “Hold” by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $8.60.

A number of equities analysts have issued reports on the stock. Citigroup raised their target price on shares of Uniti Group from $8.80 to $9.00 and gave the stock a “neutral” rating in a report on Monday, March 9th. Barclays set a $8.00 target price on Uniti Group in a report on Thursday, January 29th. Raymond James Financial reissued a “strong-buy” rating and issued a $11.00 price target on shares of Uniti Group in a report on Tuesday, March 3rd. Zacks Research lowered Uniti Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th.

Uniti Group Price Performance

Uniti Group stock opened at $10.33 on Tuesday. Uniti Group has a 12-month low of $5.30 and a 12-month high of $11.73. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 2.74 and a beta of 1.33. The firm’s fifty day moving average price is $8.05 and its 200 day moving average price is $7.07.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Monday, March 2nd. The real estate investment trust reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $917.20 million during the quarter, compared to analysts’ expectations of $909.44 million. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue for the quarter was up 212.8% on a year-over-year basis. Analysts forecast that Uniti Group will post 1.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Uniti Group

Several institutional investors have recently modified their holdings of UNIT. T. Rowe Price Investment Management Inc. lifted its position in Uniti Group by 103.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 14,656,558 shares of the real estate investment trust’s stock valued at $102,743,000 after purchasing an additional 7,441,044 shares during the last quarter. Vanguard Group Inc. grew its position in Uniti Group by 38.9% in the 4th quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock worth $162,651,000 after purchasing an additional 6,494,001 shares during the last quarter. King Street Capital Management L.P. increased its stake in shares of Uniti Group by 36.4% in 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. Penn Capital Management Company LLC acquired a new stake in shares of Uniti Group in the fourth quarter valued at approximately $8,900,000. Finally, SG Americas Securities LLC raised its holdings in shares of Uniti Group by 2,208.3% during the fourth quarter. SG Americas Securities LLC now owns 995,163 shares of the real estate investment trust’s stock valued at $6,976,000 after buying an additional 952,050 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.

About Uniti Group

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.