Uniti Group (NASDAQ:UNIT) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Uniti Group (NASDAQ:UNIT) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings raised shares of Uniti Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, November 17th. Barclays initiated coverage on Uniti Group in a research note on Friday, October 3rd. They issued an “equal weight” rating and a $6.00 price target on the stock. Zacks Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 9th. Wells Fargo & Company cut their target price on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. assumed coverage on Uniti Group in a report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.55.

Uniti Group Stock Down 0.3%

Shares of Uniti Group stock opened at $5.95 on Friday. Uniti Group has a 52-week low of $5.30 and a 52-week high of $12.62. The company has a market capitalization of $880.48 million, a P/E ratio of 1.16 and a beta of 1.52. The company has a 50 day moving average of $6.08 and a 200 day moving average of $5.55.

Institutional Trading of Uniti Group

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Uniti Group by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,996,734 shares of the real estate investment trust’s stock worth $186,464,000 after buying an additional 151,070 shares during the period. LSV Asset Management grew its position in shares of Uniti Group by 0.7% during the first quarter. LSV Asset Management now owns 6,689,243 shares of the real estate investment trust’s stock worth $33,714,000 after acquiring an additional 45,724 shares during the last quarter. King Street Capital Management L.P. increased its holdings 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 acquiring an additional 1,600,000 shares during the period. Goldman Sachs Group Inc. raised its position in Uniti Group by 23.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock valued at $23,207,000 after purchasing an additional 877,911 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Uniti Group by 36.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 3,290,053 shares of the real estate investment trust’s stock valued at $14,213,000 after purchasing an additional 880,394 shares during the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

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.