Uniti Group (NASDAQ:UNIT) Hits New 12-Month Low - Here's Why

Key Points

• Uniti Group's stock hit a new 52-week low of $6.07, last trading at $6.10, following a significant volume of over 2.2 million shares.
• Brokerage ratings are mixed, with Citigroup maintaining a "neutral" rating at a $5.30 target, while Wells Fargo raised its target to $7.50, and Wall Street Zen downgraded it to a "sell."
• In its latest earnings report, Uniti Group missed earnings expectations, reporting $0.36 per share compared to the consensus estimate of $0.42, with increasing revenue year-over-year despite a negative return on equity.

Uniti Group Inc. (NASDAQ:UNIT - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $6.07 and last traded at $6.10, with a volume of 2223641 shares changing hands. The stock had previously closed at $6.25.

Wall Street Analysts Forecast Growth

UNIT has been the subject of a number of recent research reports. 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. Wells Fargo & Company increased their target price on shares of Uniti Group from $4.50 to $7.50 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Uniti Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $6.70.

Uniti Group Stock Up 6.0%

The stock has a market capitalization of $936.71 million, a price-to-earnings ratio of 23.01 and a beta of 1.47. The company's 50-day moving average is $5.27 and its 200-day moving average is $5.00.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UNIT. Savant Capital LLC boosted its position in shares of Uniti Group by 2.6% in the second quarter. Savant Capital LLC now owns 63,592 shares of the real estate investment trust's stock worth $275,000 after acquiring an additional 1,601 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Uniti Group by 2.0% in the second quarter. Daiwa Securities Group Inc. now owns 84,017 shares of the real estate investment trust's stock worth $363,000 after acquiring an additional 1,629 shares during the last quarter. Journey Strategic Wealth LLC boosted its position in shares of Uniti Group by 11.1% in the second quarter. Journey Strategic Wealth LLC now owns 19,236 shares of the real estate investment trust's stock worth $83,000 after acquiring an additional 1,924 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Uniti Group by 10.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,834 shares of the real estate investment trust's stock worth $137,000 after acquiring an additional 2,447 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Uniti Group by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 228,227 shares of the real estate investment trust's stock worth $1,255,000 after acquiring an additional 3,287 shares during the last quarter. Hedge funds and other institutional investors own 87.51% of the company's stock.

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.