Uniti Group Inc. (NASDAQ:UNIT) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Uniti Group has a consensus “Hold” rating from nine analysts: seven holds, one buy, and one strong buy. The average 12-month price target is $10.92, above the stock’s reported $9.46 price.
• Recent analyst actions were mixed: TD Cowen and JPMorgan lowered their price targets to $11, while Barclays raised its target to $13; ratings ranged from buy to neutral and equal weight.
• Institutional investors own 87.51% of Uniti Group, while the company recently reported a quarterly EPS loss of $0.68 that missed estimates, despite revenue of $909.7 million exceeding expectations.

Uniti Group Inc. (NASDAQ:UNIT - Get Free Report) has received a consensus rating of "Hold" from the nine research firms that are currently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $10.9167.

UNIT has been the subject of several research analyst reports. TD Cowen dropped their price objective on Uniti Group from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Friday, July 31st. JPMorgan Chase & Co. decreased 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 reissued a "hold (c+)" rating on shares of Uniti Group in a report on Wednesday, August 19th. Finally, Barclays raised their price target on Uniti Group from $11.00 to $13.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 1st.

Hedge Funds Weigh In On Uniti Group

Several hedge funds have recently added to or reduced their stakes in UNIT. Corient Private Wealth LP purchased a new stake in shares of Uniti Group in the second quarter valued at about $178,000. BTG Pactual Asset Management US LLC purchased a new position in shares of Uniti Group during the 2nd quarter worth approximately $1,583,000. Public Employees Retirement System of Ohio purchased a new position in shares of Uniti Group during the 2nd quarter worth approximately $95,000. Bank of New York Mellon Corp purchased a new position in shares of Uniti Group during the 2nd quarter worth approximately $15,701,000. Finally, Amundi raised its position in shares of 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 purchasing an additional 14,618 shares during the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Stock Up 0.1%

NASDAQ:UNIT opened at $9.46 on Tuesday. The firm's fifty day simple moving average is $10.09 and its 200-day simple moving average is $10.40. The stock has a market cap of $2.30 billion, a PE ratio of 3.49 and a beta of 1.39. Uniti Group has a fifty-two week low of $5.30 and a fifty-two week high of $12.94.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.23). Uniti Group had a negative return on equity of 133.07% and a net margin of 28.68%.The company had revenue of $909.70 million for the quarter, compared to analysts' expectations of $884.82 million. Equities analysts anticipate that Uniti Group will post -2.09 earnings per share for the current year.

About Uniti Group

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.

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