Uniti Group (NASDAQ:UNIT) Downgraded by Wall Street Zen to “Sell”

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

A number of other research firms also recently weighed in on UNIT. Barclays set a $8.00 price target on Uniti Group in a research note on Thursday, January 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th. Finally, Wells Fargo & Company reduced their target price on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.83.

Uniti Group Price Performance

UNIT opened at $7.32 on Friday. The firm has a 50 day simple moving average of $7.64 and a 200 day simple moving average of $6.79. Uniti Group has a fifty-two week low of $5.30 and a fifty-two week high of $11.73. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 1.43 and a beta of 1.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UNIT. T. Rowe Price Investment Management Inc. raised its position in shares of Uniti Group by 103.1% during 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 purchasing an additional 7,441,044 shares during the period. Vanguard Group Inc. increased its stake in Uniti Group by 38.9% during the 4th quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock worth $162,651,000 after purchasing an additional 6,494,001 shares in the last quarter. King Street Capital Management L.P. raised its holdings in Uniti Group by 36.4% during the 2nd 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 buying an additional 1,600,000 shares during the period. Penn Capital Management Company LLC bought a new position in Uniti Group in the fourth quarter valued at approximately $8,900,000. Finally, SG Americas Securities LLC lifted its stake in Uniti Group by 2,208.3% in the fourth quarter. SG Americas Securities LLC now owns 995,163 shares of the real estate investment trust’s stock valued at $6,976,000 after buying an additional 952,050 shares in the last quarter. 87.51% of the stock is 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.