Uniti Group (NASDAQ:UNIT) Rating Lowered to “Sell” at Wall Street Zen

Uniti Group (NASDAQ:UNIT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Several other analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th. Barclays set a $8.00 price target on Uniti Group in a research report on Thursday, January 29th. Finally, Wells Fargo & Company dropped their price target on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Uniti Group has an average rating of “Hold” and an average target price of $6.83.

Uniti Group Stock Performance

Shares of NASDAQ UNIT opened at $7.32 on Friday. Uniti Group has a 52-week low of $5.30 and a 52-week high of $11.73. The business has a fifty day moving average of $7.64 and a two-hundred day moving average of $6.79. The stock has a market cap of $1.08 billion, a PE ratio of 1.43 and a beta of 1.47.

Institutional Trading of Uniti Group

A number of hedge funds and other institutional investors have recently modified their holdings of UNIT. Mackenzie Financial Corp lifted its holdings in Uniti Group by 12.5% during the 4th quarter. Mackenzie Financial Corp now owns 12,202 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 1,352 shares in the last quarter. Savant Capital LLC increased its stake in shares of Uniti Group by 2.6% in the 2nd quarter. Savant Capital LLC now owns 63,592 shares of the real estate investment trust’s stock valued at $275,000 after buying an additional 1,601 shares during the period. Daiwa Securities Group Inc. raised its position in shares of 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 worth $363,000 after acquiring an additional 1,629 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of 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. Finally, Journey Strategic Wealth LLC lifted its stake in shares of Uniti Group by 11.1% during the second quarter. Journey Strategic Wealth LLC now owns 19,236 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 1,924 shares during the period. Institutional investors and hedge funds 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.