Uniti Group Inc. (NASDAQ:UNIT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Uniti Group Inc. (NASDAQ:UNIT) have been given an average rating of “Hold” by the nine research firms that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $11.1389.

A number of research analysts have recently commented on the company. Wells Fargo & Company upped their target price on Uniti Group from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. UBS Group set a $12.00 price target on Uniti Group in a research note on Tuesday, May 12th. Weiss Ratings upgraded Uniti Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Barclays upped their price objective on Uniti Group from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 1st. Finally, TD Cowen increased their target price on Uniti Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th.

Hedge Funds Weigh In On Uniti Group

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Uniti Group by 38.9% in the fourth 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. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Uniti Group by 103.1% in 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 buying an additional 7,441,044 shares during the period. State Street Corp lifted 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 period. Goldman Sachs Group Inc. grew its position in shares of Uniti Group by 23.6% during the 1st 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 in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Uniti Group by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 4,352,729 shares of the real estate investment trust’s stock worth $30,518,000 after buying an additional 323,845 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Trading Up 1.6%

Uniti Group stock opened at $11.19 on Thursday. Uniti Group has a 12-month low of $5.30 and a 12-month high of $12.94. The firm has a 50-day moving average price of $11.33 and a 200-day moving average price of $9.60. The firm has a market capitalization of $2.72 billion, a PE ratio of 3.34 and a beta of 1.40.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.01. The firm had revenue of $987.50 million for the quarter, compared to the consensus estimate of $930.08 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 236.0% on a year-over-year basis. As a group, sell-side analysts predict that Uniti Group will post -1.56 earnings per share for the current fiscal year.

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.