Uniti Group (NASDAQ:UNIT) Coverage Initiated at Barclays

Key Points

• Barclays has upgraded Uniti Group's rating to "hold" with a target price of $6.00, indicating a potential upside of 2.74% from its current price.
• Uniti Group's stock performance has seen fluctuations, opening at $5.84 with a 52-week range between $5.66 and $12.62.
• Institutional investors hold a significant majority of Uniti Group's shares, owning 87.51% of the company's stock.

Investment analysts at Barclays assumed coverage on shares of Uniti Group (NASDAQ:UNIT - Get Free Report) in a report released on Friday, MarketBeat Ratings reports. The brokerage set an "equal weight" rating and a $6.00 price target on the real estate investment trust's stock. Barclays's target price indicates a potential upside of 2.74% from the company's previous close.

UNIT has been the subject of several other reports. Wall Street Zen lowered Uniti Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company boosted their price target on Uniti Group from $4.50 to $7.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Zacks Research lowered Uniti Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday, September 10th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Uniti Group in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $6.56.

Uniti Group Stock Up 0.9%

Shares of NASDAQ UNIT opened at $5.84 on Friday. The business has a fifty day simple moving average of $6.41 and a two-hundred day simple moving average of $5.22. The firm has a market cap of $864.20 million, a PE ratio of 21.23 and a beta of 1.56. Uniti Group has a twelve month low of $5.66 and a twelve month high of $12.62.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its 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). The firm had revenue of $300.73 million for the quarter, compared to the consensus estimate of $304.06 million. Uniti Group had a net margin of 2.96% and a negative return on equity of 1.43%. The company's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. Uniti Group has set its FY 2025 guidance at EPS. On average, research analysts expect that Uniti Group will post 1.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its stake in Uniti Group by 10.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,834 shares of the real estate investment trust's stock valued at $137,000 after purchasing an additional 2,447 shares during the last quarter. California State Teachers Retirement System grew its stake in Uniti Group by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 228,227 shares of the real estate investment trust's stock valued at $1,255,000 after purchasing an additional 3,287 shares during the last quarter. GAMMA Investing LLC grew its stake in Uniti Group by 486.7% during the 1st quarter. GAMMA Investing LLC now owns 18,522 shares of the real estate investment trust's stock valued at $93,000 after purchasing an additional 15,365 shares during the last quarter. Range Financial Group LLC grew its stake in Uniti Group by 22.3% during the 1st quarter. Range Financial Group LLC now owns 44,699 shares of the real estate investment trust's stock valued at $225,000 after purchasing an additional 8,137 shares during the last quarter. Finally, Sonora Investment Management Group LLC grew its stake in Uniti Group by 5.4% during the 1st quarter. Sonora Investment Management Group LLC now owns 294,335 shares of the real estate investment trust's stock valued at $1,483,000 after purchasing an additional 15,000 shares during the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

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.