Uniti Group Inc. (NASDAQ:UNIT) Given Average Recommendation of “Hold” by Brokerages

Shares of Uniti Group Inc. (NASDAQ:UNIT) have been given an average rating of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $10.9167.

UNIT has been the subject of several analyst reports. Williams Trading set a $12.00 price target on shares of Uniti Group in a research report on Tuesday, May 12th. UBS Group set a $12.00 price target on shares of Uniti Group in a research report on Tuesday, May 12th. Royal Bank Of Canada increased their price target on shares of Uniti Group from $6.50 to $7.50 and gave the company a “sector perform” rating in a research report on Monday, April 13th. 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. Finally, Barclays increased their price target on shares of Uniti Group from $8.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th.

Uniti Group Price Performance

Shares of Uniti Group stock opened at $11.27 on Wednesday. Uniti Group has a 1 year low of $5.30 and a 1 year high of $12.39. The firm’s 50-day moving average is $10.37 and its two-hundred day moving average is $8.38. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 3.36 and a beta of 1.44.

Uniti Group (NASDAQ:UNIT) last issued its earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.01. Uniti Group had a net margin of 39.61% and a negative return on equity of 2.52%. The company had revenue of $987.50 million for the quarter, compared to analysts’ expectations of $930.08 million. During the same period in the prior year, the business earned $0.35 EPS. The firm’s quarterly revenue was up 236.0% on a year-over-year basis. On average, equities analysts expect that Uniti Group will post -1.75 earnings per share for the current year.

Institutional Trading of Uniti Group

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Uniti Group by 38.9% during the fourth quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock valued at $162,651,000 after buying an additional 6,494,001 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Uniti Group by 103.1% during the fourth 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 buying an additional 7,441,044 shares during the last quarter. State Street Corp raised its position in shares of Uniti Group by 7.9% in the 4th quarter. State Street Corp now owns 7,116,934 shares of the real estate investment trust’s stock valued at $49,890,000 after purchasing an additional 523,054 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Uniti Group by 23.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock worth $23,207,000 after purchasing an additional 877,911 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Uniti Group by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 4,352,729 shares of the real estate investment trust’s stock worth $30,518,000 after purchasing an additional 323,845 shares in the last quarter. 87.51% of the stock is owned by hedge funds and other 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.