Uniti Group (NASDAQ:UNIT) Trading Up 13.3% - Here's Why

Key Points

• Uniti Group's stock price surged by 13.3% to $7.30, with trading volume increasing by 12% compared to its average session.
• Wells Fargo recently raised its price target on Uniti Group from $4.50 to $7.50, while Wall Street Zen downgraded the stock from "hold" to "sell."
• The company's recent earnings report showed an EPS of $0.36, missing analysts' estimates, and its revenue increased by 2.0% year-over-year despite falling short of expectations.

Uniti Group Inc. (NASDAQ:UNIT - Get Free Report)'s share price traded up 13.3% on Monday . The stock traded as high as $7.24 and last traded at $7.30. 1,553,911 shares traded hands during mid-day trading, an increase of 12% from the average session volume of 1,381,933 shares. The stock had previously closed at $6.44.

Analysts Set New Price Targets

UNIT has been the topic of a number of research reports. Wall Street Zen cut Uniti Group from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Wells Fargo & Company lifted their price objective on shares of Uniti Group from $4.50 to $7.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, Citigroup reissued a "neutral" rating and issued a $5.30 target price on shares of Uniti Group in a research note on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Uniti Group has an average rating of "Moderate Buy" and a consensus target price of $6.70.

Uniti Group Stock Up 13.7%

The firm's 50-day simple moving average is $5.71 and its 200 day simple moving average is $5.05. The firm has a market cap of $1.08 billion, a P/E ratio of 26.88 and a beta of 1.51.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.36 earnings per share (EPS) 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 analysts' expectations of $304.06 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. Uniti Group has set its FY 2025 guidance at EPS. As a group, analysts forecast that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. KBC Group NV acquired a new stake in Uniti Group during the first quarter worth about $28,000. Allworth Financial LP grew its position in shares of Uniti Group by 775.7% during the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 6,919 shares during the period. Park Avenue Securities LLC purchased a new stake in shares of Uniti Group during the 2nd quarter valued at $45,000. Osaic Holdings Inc. lifted its position in shares of Uniti Group by 20.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 1,795 shares during the period. Finally, American Century Companies Inc. purchased a new position in Uniti Group in the first quarter worth about $65,000. Institutional investors and hedge funds own 87.51% of the company's stock.

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.

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