Uniti Group (NASDAQ:UNIT) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Uniti Group (NASDAQ:UNIT) from a hold rating to a sell rating in a research report report published on Sunday morning.

A number of other research analysts also recently issued reports on UNIT. Wells Fargo & Company reduced their price objective on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a report on Monday, December 29th. Finally, Barclays set a $8.00 price target on shares of Uniti Group in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.83.

Uniti Group Stock Down 2.3%

Shares of NASDAQ UNIT opened at $7.32 on Friday. The company has a market capitalization of $1.08 billion, a PE ratio of 1.43 and a beta of 1.47. The stock’s 50 day moving average price is $7.64 and its 200-day moving average price is $6.79. Uniti Group has a twelve month low of $5.30 and a twelve month high of $11.73.

Hedge Funds Weigh In On Uniti Group

Several large investors have recently modified their holdings of the business. Hilton Head Capital Partners LLC purchased a new stake in shares of Uniti Group during the 4th quarter valued at approximately $40,000. Allworth Financial LP grew its stake in Uniti Group by 775.7% in the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 6,919 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Uniti Group during the 4th quarter valued at $72,000. Osaic Holdings Inc. raised its holdings in Uniti Group by 20.6% during the 2nd 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. Finally, Cibc World Markets Corp purchased a new stake in shares of Uniti Group during the fourth quarter worth $78,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

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.