Uniti Group (NASDAQ:UNIT) Raised to Strong-Buy at Raymond James

Uniti Group (NASDAQ:UNIT) was upgraded by investment analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued on Monday,Briefing.com Automated Import reports. The firm presently has a $8.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $6.00. Raymond James’ price objective indicates a potential upside of 42.35% from the company’s previous close.

Separately, Royal Bank of Canada boosted their price target on Uniti Group from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research report on Monday, December 23rd.

Uniti Group Stock Performance

UNIT stock opened at $5.62 on Monday. Uniti Group has a fifty-two week low of $2.57 and a fifty-two week high of $6.71. The business’s 50 day moving average price is $5.56 and its two-hundred day moving average price is $5.41. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 13.71 and a beta of 1.31.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The firm had revenue of $293.32 million for the quarter, compared to the consensus estimate of $294.59 million. Sell-side analysts forecast that Uniti Group will post 1.28 earnings per share for the current year.

Institutional Trading of Uniti Group

Hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its position in Uniti Group by 51.3% in the 4th quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 2,870 shares in the last quarter. Ballentine Partners LLC bought a new position in Uniti Group in the 3rd quarter valued at approximately $64,000. Proficio Capital Partners LLC bought a new position in Uniti Group in the 4th quarter valued at approximately $68,000. Pitcairn Co. bought a new position in Uniti Group in the 3rd quarter valued at approximately $69,000. Finally, Virtu Financial LLC bought a new position in Uniti Group in the 3rd quarter valued at approximately $70,000. 87.51% of the stock is owned by institutional investors.

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.