Uniti Group (NASDAQ:UNIT) Rating Increased to Hold at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Uniti Group (NASDAQ:UNIT – Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company lowered their price target on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. JPMorgan Chase & Co. began coverage on Uniti Group in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 target price on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a report on Monday, December 29th. Zacks Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Barclays reiterated a “positive” rating and issued a $7.00 price objective on shares of Uniti Group in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.86.

Read Our Latest Stock Analysis on UNIT

Uniti Group Price Performance

Shares of NASDAQ:UNIT opened at $7.51 on Friday. Uniti Group has a 1-year low of $5.30 and a 1-year high of $12.34. The stock has a market cap of $1.11 billion, a P/E ratio of 1.47 and a beta of 1.45. The firm has a fifty day moving average price of $6.85 and a 200 day moving average price of $6.27.

Institutional Investors Weigh In On Uniti Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. King Street Capital Management L.P. grew its stake in shares of Uniti Group by 36.4% during the 2nd 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 purchasing an additional 1,600,000 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Uniti Group by 23.6% in the first 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 boosted its holdings in Uniti Group by 36.5% during the second quarter. Thrivent Financial for Lutherans now owns 3,290,053 shares of the real estate investment trust’s stock worth $14,213,000 after buying an additional 880,394 shares in the last quarter. Bracebridge Capital LLC grew its position in 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 position in 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 during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Company Profile

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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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