Uniti Group Inc. (NASDAQ:UNIT) Receives Consensus Rating of “Hold” from Brokerages

Uniti Group Inc. (NASDAQ:UNIT) has received a consensus rating of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $6.55.

UNIT has been the topic of several recent research reports. Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Uniti Group in a report on Monday, November 24th. Wall Street Zen lowered shares of Uniti Group from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Wells Fargo & Company reduced their price objective on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. initiated coverage on Uniti Group in a research report on Thursday, October 23rd. They set a “neutral” rating and a $7.00 price objective for the company.

Hedge Funds Weigh In On Uniti Group

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of Uniti Group by 775.7% during the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 6,919 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Uniti Group in the second quarter worth $45,000. Osaic Holdings Inc. raised its stake in Uniti Group by 20.6% during the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,795 shares in the last quarter. American Century Companies Inc. bought a new position in Uniti Group during the first quarter valued at $65,000. Finally, Inspire Advisors LLC bought a new position in shares of Uniti Group during the 1st quarter valued at approximately $66,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Stock Up 0.9%

UNIT opened at $6.37 on Wednesday. The business’s fifty day simple moving average is $6.06 and its 200 day simple moving average is $5.59. Uniti Group has a 52 week low of $5.30 and a 52 week high of $12.62. The stock has a market cap of $941.89 million, a PE ratio of 1.25 and a beta of 1.49.

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.