Uniti Group (NASDAQ:UNIT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Uniti Group (NASDAQ:UNIT) from a sell rating to a hold rating in a report released on Saturday morning.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company cut their target price on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Weiss Ratings lowered Uniti Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, December 1st. JPMorgan Chase & Co. initiated coverage on Uniti Group in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price objective for the company. Zacks Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Barclays assumed coverage on shares of Uniti Group in a research report on Friday, October 3rd. They set an “equal weight” rating and a $6.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.55.

Uniti Group Price Performance

NASDAQ UNIT opened at $6.50 on Friday. The firm’s fifty day moving average price is $6.08 and its 200 day moving average price is $5.68. Uniti Group has a 12 month low of $5.30 and a 12 month high of $12.62. The company has a market capitalization of $961.87 million, a price-to-earnings ratio of 1.27 and a beta of 1.49.

Institutional Investors Weigh In On Uniti Group

Large investors have recently modified their holdings of the stock. Allworth Financial LP grew its position in Uniti Group by 775.7% in the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 6,919 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in shares of Uniti Group in the 2nd quarter worth $45,000. Osaic Holdings Inc. boosted its holdings in shares of Uniti Group by 20.6% in the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,795 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Uniti Group during the first quarter worth about $65,000. Finally, QRG Capital Management Inc. purchased a new position in Uniti Group during the second quarter worth about $68,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

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.