ValuEngine upgraded shares of Uniti Group (NASDAQ:UNIT) from a sell rating to a hold rating in a report released on Thursday morning.

A number of other brokerages have also recently commented on UNIT. Morgan Stanley cut Uniti Group from an overweight rating to an equal weight rating and set a $24.00 price target on the stock. in a research report on Thursday, June 14th. BidaskClub cut Uniti Group from a strong-buy rating to a buy rating in a research report on Saturday, June 16th. Citigroup cut Uniti Group from a neutral rating to a sell rating and set a $27.00 price target on the stock. in a research report on Wednesday, July 18th. Zacks Investment Research cut Uniti Group from a buy rating to a hold rating in a research report on Sunday, July 15th. Finally, Royal Bank of Canada restated a buy rating and issued a $22.00 price target on shares of Uniti Group in a research report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $25.80.

Shares of NASDAQ UNIT opened at $20.34 on Thursday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of -0.04. Uniti Group has a 52 week low of $13.81 and a 52 week high of $23.42. The firm has a market capitalization of $3.59 billion, a P/E ratio of 8.10, a P/E/G ratio of 0.94 and a beta of 0.77.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 11.80%. The ex-dividend date is Thursday, September 27th. Uniti Group’s dividend payout ratio (DPR) is presently 95.62%.

A number of large investors have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB boosted its stake in Uniti Group by 11.9% in the second quarter. Xact Kapitalforvaltning AB now owns 25,434 shares of the real estate investment trust’s stock valued at $509,000 after buying an additional 2,700 shares in the last quarter. BB&T Securities LLC boosted its stake in Uniti Group by 8.2% in the second quarter. BB&T Securities LLC now owns 36,658 shares of the real estate investment trust’s stock valued at $734,000 after buying an additional 2,773 shares in the last quarter. Chicago Equity Partners LLC boosted its stake in Uniti Group by 10.5% in the second quarter. Chicago Equity Partners LLC now owns 32,220 shares of the real estate investment trust’s stock valued at $645,000 after buying an additional 3,055 shares in the last quarter. Arizona State Retirement System boosted its stake in Uniti Group by 2.7% in the second quarter. Arizona State Retirement System now owns 114,668 shares of the real estate investment trust’s stock valued at $2,297,000 after buying an additional 3,062 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Uniti Group by 48.5% in the first quarter. Sei Investments Co. now owns 9,388 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 3,067 shares in the last quarter. 71.36% of the stock is currently owned by institutional investors and hedge funds.

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 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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