Uniti Group Inc. (NASDAQ:UNIT) Receives Consensus Rating of “Hold” from Analysts

Uniti Group Inc. (NASDAQ:UNIT) has earned a consensus recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $10.92.

A number of brokerages recently issued reports on UNIT. Barclays raised their price target on Uniti Group from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Uniti Group in a research report on Wednesday, August 19th. JPMorgan Chase & Co. cut their target price on Uniti Group from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Finally, TD Cowen reduced their price target on Uniti Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, July 31st.

Uniti Group Price Performance

Shares of UNIT stock opened at $8.65 on Tuesday. The company has a market cap of $2.10 billion, a PE ratio of 3.19 and a beta of 1.39. Uniti Group has a 1 year low of $5.30 and a 1 year high of $12.94. The stock’s 50 day simple moving average is $9.89 and its two-hundred day simple moving average is $10.43.

Uniti Group (NASDAQ:UNIT) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.23). The company had revenue of $909.70 million during the quarter, compared to analysts’ expectations of $884.82 million. Uniti Group had a negative return on equity of 133.07% and a net margin of 28.68%. Equities research analysts expect that Uniti Group will post -2.09 EPS for the current year.

Institutional Trading of Uniti Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP bought a new position in shares of Uniti Group in the second quarter worth about $178,000. BTG Pactual Asset Management US LLC bought a new stake in Uniti Group during the 2nd quarter valued at about $1,583,000. Public Employees Retirement System of Ohio bought a new stake in Uniti Group during the 2nd quarter valued at about $95,000. Bank of New York Mellon Corp purchased a new stake in Uniti Group in the 2nd quarter valued at about $15,701,000. Finally, Amundi boosted its position in Uniti Group by 38.3% in the 1st quarter. Amundi now owns 52,782 shares of the real estate investment trust’s stock valued at $495,000 after buying an additional 14,618 shares during the period. 87.51% of the stock is currently owned by institutional investors.

About Uniti Group

Uniti Group Inc is a communications infrastructure company that owns and manages real estate and network assets used to support telecommunications services. The company’s portfolio has historically included fiber-optic networks, copper networks, towers, and other infrastructure leased to wireless carriers, broadband providers, utilities, government entities, and other communications companies.

Uniti’s primary business is providing access to its infrastructure through long-term leases, dark-fiber arrangements, indefeasible rights of use, and other commercial agreements.