Uniti Group (NASDAQ:UNIT) Stock Price Up 7.4% - Should You Buy?

Uniti Group Inc. (NASDAQ:UNIT - Get Free Report) shares traded up 7.4% during mid-day trading on Monday . The stock traded as high as $5.16 and last traded at $5.14. 1,711,709 shares changed hands during trading, a decline of 27% from the average session volume of 2,329,561 shares. The stock had previously closed at $4.79.

Wall Street Analysts Forecast Growth

UNIT has been the topic of a number of analyst reports. Citigroup restated a "neutral" rating and set a $5.30 target price on shares of Uniti Group in a report on Friday, May 16th. Wells Fargo & Company reduced their price target on Uniti Group from $5.00 to $4.50 and set an "equal weight" rating for the company in a research note on Thursday, May 8th.

Uniti Group Trading Up 10.2%

The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 20.31 and a beta of 1.46. The company has a fifty day moving average price of $4.37 and a two-hundred day moving average price of $4.88.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.35. Uniti Group had a negative return on equity of 2.60% and a net margin of 5.45%. The firm had revenue of $293.91 million for the quarter, compared to analyst estimates of $295.39 million. During the same quarter last year, the company posted $0.32 earnings per share. The business's revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts expect that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Institutional Investors Weigh In On Uniti Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new position in Uniti Group during the 4th quarter valued at about $68,000. Raymond James Financial Inc. acquired a new position in shares of Uniti Group in the fourth quarter valued at $2,418,000. PNC Financial Services Group Inc. lifted its position in Uniti Group by 20.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,376 shares of the real estate investment trust's stock worth $90,000 after purchasing an additional 2,790 shares during the period. Swiss National Bank lifted its holdings in shares of Uniti Group by 3.6% in the fourth quarter. Swiss National Bank now owns 480,174 shares of the real estate investment trust's stock worth $2,641,000 after acquiring an additional 16,900 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in Uniti Group in the 4th quarter valued at approximately $125,000. 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.

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