Uniti Group Inc. (NASDAQ:UNIT) Receives $6.70 Consensus PT from Analysts

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.

Shares of Uniti Group Inc. (NASDAQ:UNIT - Get Free Report) have earned a consensus recommendation of "Hold" from the five ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $6.70.

Several equities analysts have recently issued reports on UNIT shares. Zacks Research downgraded shares of Uniti Group from a "hold" rating to a "strong sell" rating in a report on Wednesday, September 10th. Wells Fargo & Company boosted their price target 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. Finally, Wall Street Zen downgraded shares of Uniti Group from a "hold" rating to a "sell" rating in a report on Saturday, August 9th.

Institutional Investors Weigh In On Uniti Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. raised its stake 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 valued at $46,000 after purchasing an additional 1,795 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings 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 acquiring an additional 880,394 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Uniti Group by 12.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 35,156 shares of the real estate investment trust's stock valued at $152,000 after acquiring an additional 3,806 shares during the last quarter. State of Wyoming lifted its holdings in Uniti Group by 22.5% in the 2nd quarter. State of Wyoming now owns 62,567 shares of the real estate investment trust's stock valued at $270,000 after acquiring an additional 11,483 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Uniti Group by 3.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 259,142 shares of the real estate investment trust's stock valued at $1,120,000 after acquiring an additional 7,726 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Price Performance

Shares of NASDAQ:UNIT traded up $0.27 during midday trading on Friday, reaching $6.86. The company had a trading volume of 831,810 shares, compared to its average volume of 1,470,709. The stock's fifty day moving average price is $6.07 and its 200-day moving average price is $5.11. The stock has a market capitalization of $1.02 billion, a P/E ratio of 24.82 and a beta of 1.50. Uniti Group has a one year low of $5.68 and a one year high of $12.62.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $300.73 million during the quarter, compared to analyst estimates of $304.06 million. Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. Uniti Group has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Uniti Group will post 1.28 earnings per share for the current year.

About Uniti Group

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.