Uniti Group Inc. (NASDAQ:UNIT) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Uniti Group has a consensus analyst rating of “Hold”, based on nine research firms covering the stock. The average 12-month price target is about $11.14.
• Several brokerages have recently raised their price targets on UNIT, including Citigroup, Barclays, RBC, Wells Fargo, and JPMorgan, though most maintained neutral or equal-weight style ratings.
• The company reported better-than-expected quarterly results, with EPS of ($0.34) versus estimates for ($0.35) and revenue of $987.5 million, which was well above analyst expectations.

Shares of Uniti Group Inc. (NASDAQ:UNIT - Get Free Report) have earned a consensus recommendation of "Hold" from the nine research firms that are covering the company, Marketbeat Ratings 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 12-month price target among analysts that have covered the stock in the last year is $11.1389.

Several equities research analysts have recently weighed in on UNIT shares. Citigroup upped their target price on shares of Uniti Group from $9.00 to $11.75 and gave the stock a "neutral" rating in a report on Tuesday, May 19th. Barclays boosted their price target on shares of Uniti Group from $11.00 to $13.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 1st. Royal Bank Of Canada upped their price objective on shares of Uniti Group from $6.50 to $7.50 and gave the stock a "sector perform" rating in a research note on Monday, April 13th. Wells Fargo & Company lifted their target price on shares of Uniti Group from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. boosted their target price on Uniti Group from $8.00 to $12.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th.

Uniti Group Trading Up 1.2%

NASDAQ UNIT opened at $10.90 on Thursday. Uniti Group has a 1-year low of $5.30 and a 1-year high of $12.94. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 3.25 and a beta of 1.40. The stock's 50 day moving average is $11.37 and its two-hundred day moving average is $9.46.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.01. The company had revenue of $987.50 million during the quarter, compared to analyst estimates of $930.08 million. During the same period in the prior year, the firm earned $0.35 EPS. Uniti Group's quarterly revenue was up 236.0% compared to the same quarter last year. On average, analysts predict that Uniti Group will post -1.56 earnings per share for the current year.

Institutional Trading of Uniti Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. KBC Group NV acquired a new position in Uniti Group during the 1st quarter worth about $43,000. Hilton Head Capital Partners LLC bought a new position in shares of Uniti Group in the fourth quarter worth about $40,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Uniti Group during the fourth quarter worth approximately $72,000. Osaic Holdings Inc. lifted its position in shares of Uniti Group by 20.6% during the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 1,795 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Uniti Group during the first quarter worth approximately $100,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

About Uniti Group

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company's assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti's portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.

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