Uniti Group (NASDAQ:UNIT) Price Target Raised to $7.50 at Royal Bank Of Canada

Uniti Group (NASDAQ:UNIT) had its price objective lifted by Royal Bank Of Canada from $6.50 to $7.50 in a report issued on Monday morning,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Several other analysts have also recently commented on the company. Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Wells Fargo & Company raised their target price on Uniti Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Citigroup raised their target price on Uniti Group from $8.80 to $9.00 and gave the company a “neutral” rating in a research report on Monday, March 9th. Raymond James Financial restated a “strong-buy” rating and issued a $11.00 target price on shares of Uniti Group in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated 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 issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Uniti Group presently has an average rating of “Hold” and a consensus price target of $8.42.

Uniti Group Trading Up 0.4%

Shares of Uniti Group stock opened at $10.88 on Monday. The business’s 50 day simple moving average is $8.46 and its 200-day simple moving average is $7.27. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 2.88 and a beta of 1.33. Uniti Group has a twelve month low of $5.30 and a twelve month high of $11.73.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Monday, March 2nd. The real estate investment trust reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.73). The company had revenue of $917.20 million for 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 firm’s revenue for the quarter was up 212.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. Sell-side analysts predict that Uniti Group will post 1.28 earnings per share for the current year.

Hedge Funds Weigh In On Uniti Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new position in Uniti Group during the 4th quarter valued at $40,000. Osaic Holdings Inc. boosted its stake in Uniti Group by 20.6% during 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 in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Uniti Group during the 4th quarter valued at $72,000. FNY Investment Advisers LLC bought a new position in Uniti Group during the 3rd quarter valued at $75,000. Finally, Cibc World Markets Corp bought a new position in Uniti Group during the 4th quarter valued at $78,000. 87.51% of the stock is owned by institutional investors.

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.