Uniti Group Inc. (NASDAQ:UNIT) Stock Now Rated “Hold” by Sell-Side Brokerages

by · The Markets Daily

Uniti Group Inc. (NASDAQ:UNIT – Get Free Report) has been assigned a consensus rating of “Hold” from the nine analysts that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $10.92.

UNIT has been the subject of a number of research reports. Barclays boosted their target price on shares of Uniti Group from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Uniti Group in a research report on Wednesday, August 19th. TD Cowen reduced their price objective on Uniti Group from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. decreased their price objective on Uniti Group from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, July 31st.

Read Our Latest Stock Analysis on UNIT

Uniti Group Trading Down 0.2%

UNIT opened at $8.91 on Tuesday. Uniti Group has a 12-month low of $5.30 and a 12-month high of $12.94. The firm has a 50 day moving average of $9.94 and a two-hundred day moving average of $10.41. The firm has a market capitalization of $2.16 billion, a PE ratio of 3.29 and a beta of 1.39.

Uniti Group (NASDAQ:UNIT – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.23). The business had revenue of $909.70 million during the quarter, compared to analysts’ expectations of $884.82 million. Uniti Group had a net margin of 28.68% and a negative return on equity of 133.07%. As a group, analysts predict that Uniti Group will post -2.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UNIT. Corient Private Wealth LP acquired a new stake in shares of Uniti Group during the 2nd quarter worth approximately $178,000. BTG Pactual Asset Management US LLC purchased a new position in shares of Uniti Group during the 2nd quarter valued at approximately $1,583,000. Public Employees Retirement System of Ohio acquired a new position in shares of Uniti Group in the 2nd quarter valued at $95,000. Bank of New York Mellon Corp purchased a new stake in Uniti Group during the second quarter worth $15,701,000. Finally, Amundi boosted its holdings in Uniti Group by 38.3% during the first quarter. Amundi now owns 52,782 shares of the real estate investment trust’s stock worth $495,000 after buying an additional 14,618 shares in the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

About Uniti Group

(Get Free Report)

Uniti Group Inc is a communications infrastructure company that owns and manages real estate and network assets used to support telecommunications services. The company’s portfolio has historically included fiber-optic networks, copper networks, towers, and other infrastructure leased to wireless carriers, broadband providers, utilities, government entities, and other communications companies.

Uniti’s primary business is providing access to its infrastructure through long-term leases, dark-fiber arrangements, indefeasible rights of use, and other commercial agreements.

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