Uniti Group Inc. (NASDAQ:UNIT) Receives Consensus Rating of “Hold” from Brokerages
by Michael Walen · The Markets DailyUniti Group Inc. (NASDAQ:UNIT – Get Free Report) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $8.60.
Several equities research analysts recently commented on UNIT shares. Wells Fargo & Company upped their target price on Uniti Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Zacks Research lowered shares of Uniti Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Raymond James Financial reissued a “strong-buy” rating and set a $11.00 target price on shares of Uniti Group in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th. Finally, Citigroup increased their target price on shares of Uniti Group from $8.80 to $9.00 and gave the stock a “neutral” rating in a research note on Monday, March 9th.
Get Our Latest Report on Uniti Group
Uniti Group Price Performance
Shares of Uniti Group stock opened at $10.30 on Tuesday. Uniti Group has a one year low of $5.30 and a one year high of $11.73. The stock’s 50-day moving average is $8.17 and its 200 day moving average is $7.12. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 2.73 and a beta of 1.33.
Uniti Group (NASDAQ:UNIT – Get Free Report) last announced its earnings results on Monday, March 2nd. The real estate investment trust reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.73). Uniti Group had a net margin of 55.60% and a negative return on equity of 2.52%. The business had revenue of $917.20 million for the quarter, compared to the consensus estimate of $909.44 million. During the same quarter in the previous year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 212.8% on a year-over-year basis. On average, sell-side analysts expect that Uniti Group will post 1.28 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Uniti Group by 38.9% in the fourth quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock worth $162,651,000 after acquiring an additional 6,494,001 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Uniti Group by 103.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 14,656,558 shares of the real estate investment trust’s stock worth $102,743,000 after acquiring an additional 7,441,044 shares in the last quarter. State Street Corp boosted its holdings in Uniti Group by 7.9% in the fourth quarter. State Street Corp now owns 7,116,934 shares of the real estate investment trust’s stock worth $49,890,000 after acquiring an additional 523,054 shares in the last quarter. King Street Capital Management L.P. boosted its holdings in Uniti Group by 36.4% in 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 in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in 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 worth $23,207,000 after acquiring an additional 877,911 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.
Uniti Group Company Profile
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.