Uniti Group’s (UNIT) Neutral Rating Reiterated at Citigroup

Citigroup reissued their neutral rating on shares of Uniti Group (NASDAQ:UNIT) in a report published on Friday, Marketbeat.com reports. The firm currently has a $5.30 price target on the real estate investment trust’s stock.

A number of other brokerages also recently issued reports on UNIT. Raymond James raised shares of Uniti Group from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $6.00 to $8.00 in a report on Monday, February 24th. Wells Fargo & Company dropped their price target on shares of Uniti Group from $5.00 to $4.50 and set an “equal weight” rating on the stock in a report on Thursday, May 8th.

Uniti Group Trading Down 4.3%

Shares of NASDAQ UNIT opened at $4.64 on Friday. The firm has a fifty day simple moving average of $4.75 and a two-hundred day simple moving average of $5.33. The firm has a market capitalization of $1.14 billion, a PE ratio of 11.32 and a beta of 1.59. Uniti Group has a 12 month low of $2.57 and a 12 month high of $6.31.

Uniti Group (NASDAQ:UNIT) last released its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. The firm had revenue of $293.91 million for the quarter, compared to the consensus estimate of $295.39 million. During the same period in the prior year, the firm earned $0.32 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts predict that Uniti Group will post 1.28 earnings per share for the current year.

Institutional Trading of Uniti Group

A number of institutional investors have recently made changes to their positions in the stock. Golden State Equity Partners boosted its holdings in shares of Uniti Group by 9.5% during the 4th quarter. Golden State Equity Partners now owns 23,105 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 2,000 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Uniti Group by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust’s stock worth $572,000 after purchasing an additional 2,328 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Uniti Group by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust’s stock worth $1,402,000 after purchasing an additional 2,397 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Uniti Group by 10.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,834 shares of the real estate investment trust’s stock worth $137,000 after purchasing an additional 2,447 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Uniti Group by 3.6% in the 4th quarter. Arizona State Retirement System now owns 70,798 shares of the real estate investment trust’s stock worth $389,000 after purchasing an additional 2,460 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Company Profile

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.