Uniti Group (NASDAQ:UNIT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company raised their price target for Uniti Group from $4.50 to $7.50, indicating a potential upside of 9.25% from the current stock price.
• Uniti Group's recent earnings report shows a miss on EPS estimates, reporting $0.36 versus an expected $0.42, with revenue of $300.73 million.
• Institutional investors have shown increased interest, with several firms acquiring new positions or raising their holdings in Uniti Group during the second quarter.

Uniti Group (NASDAQ:UNIT - Get Free Report) had its target price lifted by investment analysts at Wells Fargo & Company from $4.50 to $7.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price target indicates a potential upside of 12.95% from the stock's current price.

Separately, Citigroup reiterated a "neutral" rating and issued a $5.30 target price on shares of Uniti Group in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $6.70.

Uniti Group Trading Up 4.6%

Shares of UNIT stock traded up $0.29 during trading hours on Thursday, reaching $6.64. 2,980,944 shares of the company's stock were exchanged, compared to its average volume of 1,188,755. Uniti Group has a 1 year low of $6.32 and a 1 year high of $12.62. The stock has a market cap of $982.59 million, a PE ratio of 24.13 and a beta of 1.47. The stock's fifty day moving average price is $4.85 and its two-hundred day moving average price is $4.93.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. KBC Group NV purchased a new position in shares of Uniti Group during the 1st quarter valued at approximately $28,000. Allworth Financial LP raised its holdings in Uniti Group by 775.7% in the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 6,919 shares during the period. Park Avenue Securities LLC acquired a new position in Uniti Group in the 2nd quarter valued at about $45,000. American Century Companies Inc. acquired a new position in Uniti Group in the 1st quarter valued at about $65,000. Finally, Inspire Advisors LLC acquired a new position in shares of Uniti Group during the first quarter worth about $66,000. 87.51% of the stock is owned by institutional investors and hedge funds.

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.