Uniti Group Inc. (NASDAQ:UNIT) Receives $8.60 Consensus PT from Analysts

Shares of Uniti Group Inc. (NASDAQ:UNIT) have been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $8.60.

A number of equities research analysts have recently weighed in on UNIT shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. Wells Fargo & Company raised their price objective on Uniti Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Citigroup lifted their price objective on Uniti Group from $8.80 to $9.00 and gave the company a “neutral” rating in a report on Monday, March 9th. Barclays set a $8.00 target price on Uniti Group in a research report on Thursday, January 29th. Finally, Zacks Research cut Uniti Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th.

Uniti Group Price Performance

UNIT stock opened at $10.33 on Tuesday. Uniti Group has a fifty-two week low of $5.30 and a fifty-two week high of $11.73. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 2.74 and a beta of 1.33. The business’s fifty day moving average price is $8.11 and its two-hundred day moving average price is $7.10.

Uniti Group (NASDAQ:UNIT) last announced its earnings results on Monday, March 2nd. The real estate investment trust reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.73). Uniti Group had a net margin of 55.60% and a negative return on equity of 2.52%. The business had revenue of $917.20 million during the quarter, compared to the consensus estimate of $909.44 million. During the same period in the previous year, the firm posted $0.35 EPS. The company’s revenue was up 212.8% compared to the same quarter last year. Research analysts expect that Uniti Group will post 1.28 EPS for the current year.

Hedge Funds Weigh In On Uniti Group

Several hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp boosted its position in shares of Uniti Group by 12.5% during the 4th quarter. Mackenzie Financial Corp now owns 12,202 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 1,352 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Uniti Group by 2.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 84,017 shares of the real estate investment trust’s stock valued at $363,000 after purchasing an additional 1,629 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Uniti Group by 20.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,795 shares in the last quarter. Xponance LLC raised its holdings in shares of Uniti Group by 17.3% during the 4th quarter. Xponance LLC now owns 13,169 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 1,944 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Uniti Group by 10.7% during the 4th 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 last quarter. 87.51% of the stock is 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.