Uniti Group (NASDAQ:UNIT) Stock Rating Upgraded by Wall Street Zen

Uniti Group (NASDAQ:UNIT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

UNIT has been the subject of a number of other reports. Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. assumed coverage on Uniti Group in a report on Thursday, October 23rd. They set 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. Barclays restated a “positive” rating and issued a $7.00 price objective on shares of Uniti Group in a research report on Tuesday. Finally, Wells Fargo & Company dropped 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. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Uniti Group presently has an average rating of “Hold” and a consensus price target of $6.86.

Uniti Group Trading Up 0.1%

NASDAQ:UNIT opened at $7.51 on Friday. The company has a market capitalization of $1.11 billion, a P/E ratio of 1.47 and a beta of 1.45. The firm has a 50-day moving average price of $6.85 and a two-hundred day moving average price of $6.26. Uniti Group has a twelve month low of $5.30 and a twelve month high of $12.34.

Hedge Funds Weigh In On Uniti Group

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its stake in Uniti Group by 10.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 20,302 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 1,956 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Uniti Group by 2,208.3% during the 4th quarter. SG Americas Securities LLC now owns 995,163 shares of the real estate investment trust’s stock valued at $6,976,000 after acquiring an additional 952,050 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Uniti Group during the 3rd quarter worth $75,000. IFP Advisors Inc boosted its position in Uniti Group by 461.4% during the 3rd quarter. IFP Advisors Inc now owns 13,485 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 11,083 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new position in Uniti Group in the third quarter valued at about $93,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

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.