Uniti Group (NASDAQ:UNIT) Stock Price Up 13.3% - Time to Buy?

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 rose 13.3% on Monday . The stock traded as high as $7.24 and last traded at $7.30. Approximately 1,553,911 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 1,381,933 shares. The stock had previously closed at $6.44.

Analysts Set New Price Targets

UNIT has been the subject of several analyst reports. Wells Fargo & Company increased their price objective 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. Wall Street Zen lowered Uniti Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Citigroup reissued a "neutral" rating and issued a $5.30 target price on shares of Uniti Group in a research report on Friday, May 16th. Finally, Zacks Research lowered Uniti Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $6.70.

Uniti Group Stock Down 2.4%

The business has a 50-day moving average price of $5.98 and a two-hundred day moving average price of $5.10. The firm has a market cap of $1.03 billion, a PE ratio of 25.22 and a beta of 1.50.

Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $300.73 million for the quarter, compared to analysts' expectations of $304.06 million. During the same period in the prior year, the company posted $0.34 EPS. The firm's revenue was up 2.0% compared to the same quarter last year. Uniti Group has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

Institutional Trading of Uniti Group

A number of large investors have recently modified their holdings of UNIT. King Street Capital Management L.P. increased its position in shares of Uniti Group by 36.4% during the second quarter. King Street Capital Management L.P. now owns 6,000,000 shares of the real estate investment trust's stock worth $25,920,000 after acquiring an additional 1,600,000 shares during the period. Nuveen LLC purchased a new position in Uniti Group in the first quarter valued at $6,158,000. Thrivent Financial for Lutherans increased its holdings in Uniti Group by 36.5% in the second quarter. Thrivent Financial for Lutherans now owns 3,290,053 shares of the real estate investment trust's stock valued at $14,213,000 after buying an additional 880,394 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Uniti Group by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust's stock valued at $23,207,000 after buying an additional 877,911 shares during the last quarter. Finally, Bracebridge Capital LLC increased its holdings in Uniti Group by 33.0% in the second quarter. Bracebridge Capital LLC now owns 3,234,638 shares of the real estate investment trust's stock valued at $13,974,000 after buying an additional 802,600 shares during the last quarter. Hedge funds and other institutional investors 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.