Uniti Group Inc. (NASDAQ:UNIT) Receives $6.70 Consensus Target Price from Brokerages

Key Points

• Uniti Group Inc. has received a consensus rating of "Hold" from analysts, with one sell recommendation, three hold recommendations, and one strong buy recommendation, targeting an average price of $6.70.
• The company recently reported $0.36 earnings per share for the quarter, missing expectations, and had a revenue of $300.73 million, which was slightly below the consensus estimate.
• Institutional investors and hedge funds own 87.51% of Uniti Group's stock, indicating strong institutional backing for the company.

Uniti Group Inc. (NASDAQ:UNIT - Get Free Report) has been assigned an average rating of "Hold" from the five research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $6.70.

A number of analysts have commented on UNIT shares. Zacks Research cut shares of Uniti Group from a "hold" rating to a "strong sell" rating in a report on Wednesday. Wall Street Zen cut shares of Uniti Group from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company upped their target price on shares of Uniti Group from $4.50 to $7.50 and gave the company an "equal weight" rating in a report on Thursday, August 7th.

Uniti Group Stock Performance

Shares of UNIT traded down $0.17 during mid-day trading on Friday, hitting $6.94. 1,770,345 shares of the company traded hands, compared to its average volume of 3,190,960. Uniti Group has a 1 year low of $5.68 and a 1 year high of $12.62. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 25.22 and a beta of 1.51. The stock has a 50-day moving average price of $5.98 and a two-hundred day moving average price of $5.10.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.06). Uniti Group had a net margin of 2.96% and a negative return on equity of 1.43%. The business had revenue of $300.73 million for the quarter, compared to analysts' expectations of $304.06 million. During the same period in the prior year, the company posted $0.34 earnings per share. The firm's quarterly revenue was up 2.0% on a year-over-year basis. Uniti Group has set its FY 2025 guidance at EPS. On average, analysts forecast that Uniti Group will post 1.28 EPS for the current year.

Institutional Trading of Uniti Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV bought a new position in shares of Uniti Group in the first quarter worth approximately $28,000. Allworth Financial LP boosted its position in shares of Uniti Group by 775.7% in the second quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 6,919 shares during the period. Park Avenue Securities LLC bought a new position in shares of Uniti Group in the second quarter worth approximately $45,000. Osaic Holdings Inc. boosted its position in shares of Uniti Group by 20.6% in 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 during the period. Finally, American Century Companies Inc. bought a new position in shares of Uniti Group in the first quarter worth approximately $65,000. 87.51% of the stock is owned by hedge funds and other 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.