Uniti Group (NASDAQ:UNIT) Price Target Raised to $13.00 at Barclays

Uniti Group (NASDAQ:UNIT) had its target price lifted by investment analysts at Barclays from $11.00 to $13.00 in a research report issued on Wednesday, MarketBeat reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target would indicate a potential upside of 13.34% from the company’s current price.

Several other research firms have also recently issued reports on UNIT. Williams Trading set a $12.00 target price on shares of Uniti Group in a research report on Tuesday, May 12th. TD Cowen raised their target price on Uniti Group from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. boosted their target price on Uniti Group from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Weiss Ratings raised Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Finally, Citigroup lifted their price objective on shares of Uniti Group from $9.00 to $11.75 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Uniti Group has an average rating of “Hold” and an average price target of $11.14.

Uniti Group Price Performance

NASDAQ UNIT opened at $11.47 on Wednesday. The company has a fifty day moving average of $11.48 and a two-hundred day moving average of $9.31. The company has a market capitalization of $2.79 billion, a PE ratio of 3.42 and a beta of 1.40. Uniti Group has a 1 year low of $5.30 and a 1 year high of $12.94.

Uniti Group (NASDAQ:UNIT) last released its earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. Uniti Group had a negative return on equity of 2.52% and a net margin of 39.61%.The business had revenue of $987.50 million for the quarter, compared to analyst estimates of $930.08 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 236.0% compared to the same quarter last year. On average, research analysts expect that Uniti Group will post -1.56 earnings per share for the current year.

Institutional Trading of Uniti Group

A number of institutional investors have recently bought and sold shares of the company. Contrarian Capital Management L.L.C. acquired a new stake in Uniti Group in the 3rd quarter worth approximately $2,783,000. SG Americas Securities LLC boosted its position in shares of Uniti Group by 2,208.3% during the 4th quarter. SG Americas Securities LLC now owns 995,163 shares of the real estate investment trust’s stock valued at $6,976,000 after acquiring an additional 952,050 shares in the last quarter. Thematics Asset Management bought a new stake in Uniti Group in the third quarter valued at $3,900,000. TD Asset Management Inc bought a new position in shares of Uniti Group in the third quarter valued at approximately $1,532,000. Finally, Vanguard Group Inc. lifted its position in Uniti Group by 38.9% during the 4th quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock worth $162,651,000 after buying an additional 6,494,001 shares in the last quarter. Institutional investors and hedge funds 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.