Zacks Investment Research upgraded shares of Uniti Group (NASDAQ:UNIT) from a hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. They currently have $10.00 price target on the real estate investment trust’s stock.
According to Zacks, “Uniti Group Inc. is a real estate investment trust company. It engaged in the acquisition and construction of mission critical infrastructure in the communications industry. The company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers. Uniti Group Inc. is headquartered in Little Rock, AR. “
Several other equities research analysts have also recently issued reports on UNIT. BidaskClub cut Uniti Group from a buy rating to a hold rating in a research note on Tuesday, September 1st. Wells Fargo & Company upgraded Uniti Group from an underweight rating to an equal weight rating and boosted their price target for the company from $5.50 to $10.00 in a research note on Wednesday, August 12th. ValuEngine upgraded Uniti Group from a strong sell rating to a sell rating in a research note on Monday, August 3rd. Cowen reiterated an outperform rating and issued a $12.00 price target on shares of Uniti Group in a research note on Sunday, June 14th. Finally, Raymond James boosted their price target on Uniti Group from $13.00 to $15.00 and gave the company a strong-buy rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Uniti Group has an average rating of Hold and a consensus target price of $10.14.
Shares of NASDAQ:UNIT opened at $9.58 on Tuesday. Uniti Group has a 12-month low of $4.86 and a 12-month high of $11.08. The stock has a market cap of $1.86 billion, a PE ratio of -2.64 and a beta of 0.94. The business has a 50 day moving average of $9.80 and a 200-day moving average of $8.33.
Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings data on Monday, August 10th. The real estate investment trust reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($3.54). Uniti Group had a negative return on equity of 0.60% and a negative net margin of 65.51%. On average, analysts forecast that Uniti Group will post 1.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 18th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, September 17th. This represents a $0.60 annualized dividend and a dividend yield of 6.26%. Uniti Group’s dividend payout ratio (DPR) is presently 28.85%.
Several large investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new stake in shares of Uniti Group in the second quarter valued at about $35,000. Glenmede Trust Co. NA lifted its stake in shares of Uniti Group by 142.6% in the second quarter. Glenmede Trust Co. NA now owns 5,844 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 3,435 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Uniti Group by 54.0% in the first quarter. Meeder Asset Management Inc. now owns 8,386 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 2,941 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of Uniti Group by 22.6% in the first quarter. Mutual of America Capital Management LLC now owns 8,610 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 1,587 shares during the period. Finally, Quad Cities Investment Group LLC bought a new stake in Uniti Group in the second quarter worth approximately $102,000. Institutional investors own 81.04% of the company’s stock.
Uniti Group Company Profile
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.
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