Uniti Group Inc. (UNIT) – What Are Investment Firms Thinking About This Stock?

Shares of Uniti Group Inc. (NASDAQ:UNIT) have received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $11.47.

Several research analysts have recently commented on the company. TD Cowen decreased their price target on Uniti Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Raymond James Financial set a $16.00 price target on shares of Uniti Group and gave the stock a “strong-buy” rating in a research report on Tuesday, September 29th. Barclays lifted their target price on Uniti Group from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. cut their price objective on shares of Uniti Group from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Finally, Weiss Ratings cut shares of Uniti Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, October 14th.

Uniti Group Trading Down 2.3%

Shares of Uniti Group stock opened at $5.07 on Friday. Uniti Group has a 12-month low of $4.98 and a 12-month high of $12.94. The company has a 50-day simple moving average of $8.64 and a 200 day simple moving average of $10.20.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.23). The firm had revenue of $909.70 million for the quarter, compared to the consensus estimate of $884.82 million. Uniti Group had a negative return on equity of 133.07% and a net margin of 28.68%. On average, analysts predict that Uniti Group will post -2.01 EPS for the current year.

Hedge Funds Weigh In On Uniti Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC acquired a new position in Uniti Group in the 3rd quarter valued at about $109,000. Sterling Capital Management LLC grew its position in shares of Uniti Group by 237.5% in the third quarter. Sterling Capital Management LLC now owns 4,934 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 3,472 shares during the last quarter. Axxcess Wealth Management LLC bought a new position in shares of Uniti Group during the third quarter worth approximately $92,000. Pinnacle Associates Ltd. increased its stake in shares of Uniti Group by 4.2% during the third quarter. Pinnacle Associates Ltd. now owns 712,211 shares of the real estate investment trust’s stock worth $5,968,000 after purchasing an additional 28,411 shares during the period. Finally, Vontobel Holding Ltd. bought a new position in shares of Uniti Group during the third quarter worth approximately $87,000. 87.51% of the stock is owned by institutional investors.

Uniti Group Company Profile

Uniti Group Inc is a communications infrastructure company that owns, operates and acquires critical network assets used by telecommunications providers and other customers. Its portfolio primarily includes fiber-optic networks, wireless towers, small-cell infrastructure and related real estate. Uniti generally leases this infrastructure to communications companies under long-term agreements.

The company’s fiber network supports services such as broadband, data transmission, wireless backhaul and enterprise connectivity.