Citigroup Trims Uniti Group (NASDAQ:UNIT) Target Price to $7.25

Uniti Group (NASDAQ:UNIT – Get Rating) had its price target reduced by Citigroup from $9.00 to $7.25 in a research note published on Wednesday, Benzinga reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

UNIT has been the subject of a number of other research reports. Morgan Stanley dropped their target price on Uniti Group from $10.00 to $8.00 and set an underweight rating for the company in a research report on Monday, October 24th. Royal Bank of Canada reduced their price target on Uniti Group from $14.00 to $10.00 and set a sector perform rating on the stock in a research note on Thursday, October 20th. Finally, The Goldman Sachs Group dropped their target price on Uniti Group from $9.00 to $8.00 and set a neutral rating on the stock in a report on Monday, November 7th.

Uniti Group Stock Down 3.0 %

UNIT stock opened at $6.53 on Wednesday. The firm has a market capitalization of $1.55 billion, a PE ratio of -72.55, a PEG ratio of 0.22 and a beta of 1.27. Uniti Group has a twelve month low of $5.34 and a twelve month high of $14.25. The stock has a 50-day simple moving average of $6.17 and a two-hundred day simple moving average of $7.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in UNIT. Lazard Asset Management LLC acquired a new stake in Uniti Group during the 1st quarter worth about $42,000. SeaCrest Wealth Management LLC purchased a new stake in Uniti Group during the 2nd quarter worth approximately $43,000. PenderFund Capital Management Ltd. purchased a new stake in shares of Uniti Group in the first quarter valued at approximately $48,000. Exchange Traded Concepts LLC lifted its holdings in Uniti Group by 71.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,157 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 3,815 shares during the last quarter. Finally, CWM LLC lifted its holdings in Uniti Group by 496.5% in the fourth quarter. CWM LLC now owns 12,778 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 10,636 shares during the last quarter. 83.82% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Company Profile

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Uniti Group, Inc is a real estate investment trust company, which is engaged in the acquisition and construction of mission infrastructure in the communications industry. It operates through the following business segments: Leasing, Fiber Infrastructure, Towers, Consumer CLEC, and Corporate. The Leasing segment represents the real estate investment trust operations of the company and includes the results from leasing business, Uniti leasing, which engages in the acquisition of mission-critical communications assets and leasing them to anchor customers on either and exclusive or shared-tenant basis.