Uniti Group Inc. (NASDAQ:UNIT) Stock Has Consensus Price Target of $10.92 According to Analysts

Shares of Uniti Group Inc. (NASDAQ:UNIT) have received an average recommendation of “Hold” from the nine research firms that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $10.92.

UNIT has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Uniti Group from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. dropped their target price on Uniti Group from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Uniti Group in a report on Wednesday, August 19th. Finally, TD Cowen reduced their price target on Uniti Group from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, July 31st.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LP purchased a new stake in shares of Uniti Group in the second quarter worth about $178,000. BTG Pactual Asset Management US LLC bought a new position in shares of Uniti Group in the second quarter valued at approximately $1,583,000. Public Employees Retirement System of Ohio purchased a new position in Uniti Group during the second quarter valued at approximately $95,000. Bank of New York Mellon Corp purchased a new position in Uniti Group during the second quarter valued at approximately $15,701,000. Finally, Amundi increased its holdings in Uniti Group by 38.3% during the 1st quarter. Amundi now owns 52,782 shares of the real estate investment trust’s stock worth $495,000 after acquiring an additional 14,618 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Stock Down 2.5%

Shares of NASDAQ:UNIT opened at $8.93 on Tuesday. The firm has a market capitalization of $2.17 billion, a PE ratio of 3.30 and a beta of 1.39. The company has a 50-day moving average price of $9.98 and a two-hundred day moving average price of $10.42. Uniti Group has a twelve month low of $5.30 and a twelve month high of $12.94.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.23). The business had revenue of $909.70 million during the quarter, compared to the consensus estimate of $884.82 million. Uniti Group had a net margin of 28.68% and a negative return on equity of 133.07%. Analysts anticipate that Uniti Group will post -2.09 earnings per share for the current fiscal year.

Uniti Group Company Profile

Uniti Group Inc is a communications infrastructure company that owns and manages real estate and network assets used to support telecommunications services. The company’s portfolio has historically included fiber-optic networks, copper networks, towers, and other infrastructure leased to wireless carriers, broadband providers, utilities, government entities, and other communications companies.

Uniti’s primary business is providing access to its infrastructure through long-term leases, dark-fiber arrangements, indefeasible rights of use, and other commercial agreements.