Brokerages Set Uniti Group Inc. (NASDAQ:UNIT) Target Price at $6.55

by · The Cerbat Gem

Shares of Uniti Group Inc. (NASDAQ:UNIT – Get Free Report) have earned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $6.66.

Several brokerages have commented on UNIT. Barclays assumed coverage on shares of Uniti Group in a research note on Friday, October 3rd. They issued an “equal weight” rating and a $6.00 target price for the company. JPMorgan Chase & Co. assumed coverage on Uniti Group in a research note on Thursday, October 23rd. They set a “neutral” rating and a $7.00 price objective on the stock. Wall Street Zen cut Uniti Group from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Uniti Group in a report on Monday. Finally, Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th.

Read Our Latest Analysis on Uniti Group

Uniti Group Price Performance

Shares of UNIT stock opened at $7.18 on Friday. The stock has a market cap of $1.06 billion, a PE ratio of 1.40 and a beta of 1.49. The stock has a 50-day moving average of $6.42 and a 200-day moving average of $5.91. Uniti Group has a one year low of $5.30 and a one year high of $12.34.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. King Street Capital Management L.P. raised its holdings in shares of Uniti Group by 36.4% during the second quarter. King Street Capital Management L.P. now owns 6,000,000 shares of the real estate investment trust’s stock worth $25,920,000 after acquiring an additional 1,600,000 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Uniti Group by 23.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock valued at $23,207,000 after purchasing an additional 877,911 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Uniti Group by 36.5% in the second quarter. Thrivent Financial for Lutherans now owns 3,290,053 shares of the real estate investment trust’s stock valued at $14,213,000 after purchasing an additional 880,394 shares in the last quarter. Bracebridge Capital LLC boosted its position in shares of Uniti Group by 33.0% during the second quarter. Bracebridge Capital LLC now owns 3,234,638 shares of the real estate investment trust’s stock worth $13,974,000 after buying an additional 802,600 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Uniti Group by 4.0% during the second quarter. Marshall Wace LLP now owns 2,991,433 shares of the real estate investment trust’s stock worth $12,923,000 after buying an additional 113,792 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

About Uniti Group

(Get Free Report)

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.

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