BidaskClub upgraded shares of Uniti Group (NASDAQ:UNIT) from a buy rating to a strong-buy rating in a research note published on Friday.

A number of other brokerages also recently weighed in on UNIT. Citigroup downgraded Uniti Group from a neutral rating to a sell rating and set a $27.00 target price for the company. in a report on Wednesday, July 18th. Zacks Investment Research downgraded Uniti Group from a buy rating to a hold rating in a report on Sunday, July 15th. ValuEngine upgraded Uniti Group from a strong sell rating to a sell rating in a report on Friday, July 6th. Royal Bank of Canada reiterated a buy rating and issued a $22.00 target price on shares of Uniti Group in a report on Friday, August 17th. Finally, Cowen set a $28.00 target price on Uniti Group and gave the stock a buy rating in a report on Saturday, August 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $25.80.

Shares of Uniti Group stock traded down $0.34 during midday trading on Friday, reaching $19.82. The company had a trading volume of 1,765,327 shares, compared to its average volume of 1,637,653. The company has a debt-to-equity ratio of -0.04, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market cap of $3.54 billion, a P/E ratio of 7.90, a P/E/G ratio of 0.93 and a beta of 0.77. Uniti Group has a fifty-two week low of $13.94 and a fifty-two week high of $23.42.

Uniti Group (NASDAQ:UNIT) last issued its earnings results on Thursday, August 9th. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.65). The business had revenue of $247.30 million during the quarter, compared to the consensus estimate of $250.07 million. Uniti Group had a negative return on equity of 1.45% and a net margin of 1.83%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Equities analysts anticipate that Uniti Group will post 2.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.40 dividend on an annualized basis and a yield of 12.11%. Uniti Group’s payout ratio is currently 95.62%.

A number of hedge funds have recently modified their holdings of UNIT. Cornerstone Wealth Management LLC increased its holdings in shares of Uniti Group by 23.0% during the third quarter. Cornerstone Wealth Management LLC now owns 15,592 shares of the real estate investment trust’s stock valued at $1,005,000 after acquiring an additional 2,918 shares in the last quarter. Quad Cities Investment Group LLC increased its holdings in shares of Uniti Group by 154.2% during the third quarter. Quad Cities Investment Group LLC now owns 13,961 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 8,469 shares in the last quarter. Oakbrook Investments LLC bought a new stake in shares of Uniti Group during the third quarter valued at approximately $217,000. Louisiana State Employees Retirement System increased its holdings in shares of Uniti Group by 7.8% during the third quarter. Louisiana State Employees Retirement System now owns 48,100 shares of the real estate investment trust’s stock valued at $969,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Uniti Group by 33.8% during the third quarter. Nisa Investment Advisors LLC now owns 86,300 shares of the real estate investment trust’s stock valued at $1,739,000 after acquiring an additional 21,800 shares in the last quarter. Institutional investors and hedge funds own 71.05% of the company’s stock.

Uniti Group Company Profile

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 June 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 770 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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