Wall Street Zen Upgrades Uniti Group (NASDAQ:UNIT) to Hold

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

Other research analysts have also issued research reports about the company. Barclays set a $8.00 target price on Uniti Group in a report on Thursday, January 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. Finally, Wells Fargo & Company dropped their price objective on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Uniti Group currently has a consensus rating of “Hold” and an average price target of $7.06.

Uniti Group Stock Performance

Shares of NASDAQ UNIT opened at $8.58 on Friday. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 1.68 and a beta of 1.47. Uniti Group has a fifty-two week low of $5.30 and a fifty-two week high of $12.34. The firm’s 50-day simple moving average is $7.60 and its 200 day simple moving average is $6.76.

Institutional Trading of Uniti Group

A number of hedge funds have recently bought and sold shares of UNIT. Vanguard Group Inc. grew its stake in Uniti Group by 38.9% in the 4th quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock valued at $162,651,000 after purchasing an additional 6,494,001 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Uniti Group by 103.1% during the 4th 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 purchasing an additional 7,441,044 shares during the period. State Street Corp boosted its holdings in shares of Uniti Group by 7.9% in the 4th quarter. State Street Corp now owns 7,116,934 shares of the real estate investment trust’s stock worth $49,890,000 after buying an additional 523,054 shares during the last quarter. King Street Capital Management L.P. grew its position in Uniti Group by 36.4% during the second quarter. King Street Capital Management L.P. now owns 6,000,000 shares of the real estate investment trust’s stock valued at $25,920,000 after buying an additional 1,600,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Uniti Group by 23.6% during 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 buying an additional 877,911 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors.

About Uniti Group

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.