Cowen set a $28.00 target price on Uniti Group (NASDAQ:UNIT) in a research report report published on Saturday morning. The firm currently has a buy rating on the real estate investment trust’s stock.

UNIT has been the subject of a number of other reports. ValuEngine cut shares of Uniti Group from a sell rating to a strong sell rating in a research note on Wednesday, May 2nd. BidaskClub cut shares of Uniti Group from a buy rating to a hold rating in a research note on Saturday, July 21st. Citigroup cut shares of Uniti Group from a neutral rating to a sell rating and set a $27.00 price target for the company. in a research note on Wednesday, July 18th. Morgan Stanley cut shares of Uniti Group from an overweight rating to an equal weight rating and set a $24.00 price target for the company. in a research note on Thursday, June 14th. Finally, Zacks Investment Research raised shares of Uniti Group from a strong sell rating to a hold rating in a research note on Thursday, May 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $25.57.

Shares of Uniti Group traded up $0.37, reaching $18.80, during trading hours on Friday, MarketBeat.com reports. The company’s stock had a trading volume of 2,792,179 shares, compared to its average volume of 2,624,625. Uniti Group has a one year low of $13.81 and a one year high of $23.42. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of -0.04. The company has a market cap of $3.24 billion, a PE ratio of 7.49, a price-to-earnings-growth ratio of 0.84 and a beta of 0.66.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Thursday, August 9th. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.65). Uniti Group had a negative return on equity of 1.50% and a net margin of 1.83%. The business had revenue of $247.30 million during the quarter, compared to the consensus estimate of $250.07 million. During the same quarter last year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 16.1% on a year-over-year basis. sell-side analysts expect that Uniti Group will post 2.51 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a $0.60 dividend. The ex-dividend date is Thursday, September 27th. This represents a $2.40 annualized dividend and a yield of 12.77%. Uniti Group’s dividend payout ratio (DPR) is 95.62%.

A number of institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board raised its holdings in shares of Uniti Group by 39,066.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,700,000 shares of the real estate investment trust’s stock valued at $94,141,000 after purchasing an additional 4,688,000 shares in the last quarter. Sylebra HK Co Ltd bought a new stake in shares of Uniti Group in the 1st quarter valued at about $36,331,000. Barclays PLC raised its holdings in shares of Uniti Group by 128.5% in the 1st quarter. Barclays PLC now owns 2,789,454 shares of the real estate investment trust’s stock valued at $45,329,000 after purchasing an additional 1,568,732 shares in the last quarter. Mackay Shields LLC bought a new stake in shares of Uniti Group in the 2nd quarter valued at about $12,237,000. Finally, Thompson Siegel & Walmsley LLC raised its holdings in shares of Uniti Group by 8.1% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 5,709,197 shares of the real estate investment trust’s stock valued at $92,775,000 after purchasing an additional 425,815 shares in the last quarter. 74.88% of the stock is owned by institutional investors.

About Uniti Group

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of March 31, 2018, Uniti owns 5.0 million fiber strand miles, approximately 700 wireless towers, and other communications real estate throughout the United States and Latin America.

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Analyst Recommendations for Uniti Group (NASDAQ:UNIT)

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