Uniti Group (NASDAQ:UNIT) Upgraded to Hold 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 issued on Saturday.

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

Uniti Group Trading Up 3.2%

NASDAQ UNIT opened at $8.58 on Friday. Uniti Group has a 12 month low of $5.30 and a 12 month high of $12.34. The stock has a 50-day simple moving average of $7.60 and a 200 day simple moving average of $6.76. The company has a market capitalization of $1.27 billion, a PE ratio of 1.68 and a beta of 1.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. King Street Capital Management L.P. raised its stake in shares of Uniti Group by 36.4% in the 2nd 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 purchasing an additional 1,600,000 shares during the period. Bracebridge Capital LLC boosted its position in shares of Uniti Group by 33.0% during the second quarter. Bracebridge Capital LLC now owns 3,234,638 shares of the real estate investment trust’s stock worth $13,974,000 after buying an additional 802,600 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Uniti Group during the second quarter worth about $731,000. Asset Management One Co. Ltd. grew its holdings in shares of Uniti Group by 4.2% during the second quarter. Asset Management One Co. Ltd. now owns 362,088 shares of the real estate investment trust’s stock worth $1,564,000 after buying an additional 14,485 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Uniti Group in the 2nd quarter valued at approximately $782,000. Institutional investors and hedge funds own 87.51% of the company’s stock.

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.