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

Shares of Uniti Group Inc. (NASDAQ:UNIT) have been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $7.86.

Several brokerages have issued reports on UNIT. Wall Street Zen cut shares of Uniti Group from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Wells Fargo & Company raised their price target on shares of Uniti Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Thursday. Weiss Ratings restated a “hold (c-)” rating on shares of Uniti Group in a report on Monday, December 29th. Raymond James Financial reiterated a “strong-buy” rating and set a $11.00 target price on shares of Uniti Group in a research note on Tuesday. Finally, Barclays set a $8.00 target price on Uniti Group in a report on Thursday, January 29th.

Uniti Group Stock Up 2.8%

UNIT stock opened at $8.06 on Friday. The business has a 50 day moving average of $7.69 and a 200 day moving average of $6.82. The firm has a market cap of $1.19 billion, a PE ratio of 2.14 and a beta of 1.50. Uniti Group has a twelve month low of $5.30 and a twelve month high of $11.73.

Uniti Group (NASDAQ:UNIT) last released its earnings results on Monday, March 2nd. The real estate investment trust reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.73). The company had revenue of $917.30 million during the quarter, compared to the consensus estimate of $909.44 million. Uniti Group had a negative return on equity of 2.52% and a net margin of 55.60%.The company’s revenue was up 212.8% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. On average, research analysts expect that Uniti Group will post 1.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Uniti Group

Hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its stake in Uniti Group by 103.1% during the 4th 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 acquiring an additional 7,441,044 shares during the period. TMB Capital Partners LLC bought a new position in Uniti Group during the fourth quarter valued at approximately $185,000. Invesco Ltd. lifted its position in Uniti Group by 32.8% during the fourth quarter. Invesco Ltd. now owns 1,829,904 shares of the real estate investment trust’s stock valued at $12,828,000 after purchasing an additional 452,149 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Uniti Group in the fourth quarter worth approximately $72,000. Finally, State of Tennessee Department of Treasury grew its position in Uniti Group by 14.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 72,275 shares of the real estate investment trust’s stock worth $507,000 after purchasing an additional 8,948 shares during the period. 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.