Uniti Group Inc. (NASDAQ:UNIT) Receives $8.92 Consensus Price Target from Analysts

Uniti Group Inc. (NASDAQ:UNIT) has received an average rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $8.9167.

Several equities research analysts recently issued reports on UNIT shares. Royal Bank Of Canada upped their price target on Uniti Group from $6.50 to $7.50 and gave the company a “sector perform” rating in a research report on Monday, April 13th. Zacks Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Raymond James Financial reissued a “strong-buy” rating and set a $11.00 price target on shares of Uniti Group in a research report on Tuesday, March 3rd. Wells Fargo & Company upped their price target 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. Finally, Citigroup boosted their price objective on shares of Uniti Group from $8.80 to $9.00 and gave the company a “neutral” rating in a research report on Monday, March 9th.

Uniti Group Stock Down 1.5%

Shares of UNIT opened at $11.80 on Friday. The business’s 50 day moving average is $9.15 and its two-hundred day moving average is $7.66. Uniti Group has a 52-week low of $5.30 and a 52-week high of $12.18. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 3.13 and a beta of 1.33.

Uniti Group (NASDAQ:UNIT) last announced its earnings results on Monday, March 2nd. The real estate investment trust reported ($1.19) earnings per share (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 analyst estimates of $909.44 million. During the same period in the previous year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 212.8% on a year-over-year basis. On average, equities analysts expect that Uniti Group will post -1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Uniti Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC acquired a new position in Uniti Group in the fourth quarter valued at approximately $40,000. Mercer Global Advisors Inc. ADV acquired a new position in Uniti Group in the fourth quarter valued at approximately $72,000. Osaic Holdings Inc. boosted its stake in 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 valued at $46,000 after acquiring an additional 1,795 shares during the period. Cibc World Markets Corp acquired a new stake in Uniti Group in the fourth quarter worth $78,000. Finally, Cibc World Market Inc. bought a new stake in Uniti Group in the fourth quarter valued at $81,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

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.