Weiss Ratings Reaffirms Sell (D) Rating for Uniti Group (NASDAQ:UNIT)

Key Points

• Weiss Ratings has reaffirmed a "sell (D)" rating for Uniti Group (NASDAQ:UNIT) as part of their latest analysis.
• Uniti Group's stock recently rose by 3.4% to $6.00, with a current average price target of $6.63 after various analysts updated their ratings.
• The company reported $0.36 earnings per share for the last quarter, falling short of the consensus estimate by $0.06, while their revenue was $300.73 million.

Uniti Group (NASDAQ:UNIT - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

Several other equities research analysts also recently weighed in on UNIT. Wells Fargo & Company lifted their price target on shares of Uniti Group from $4.50 to $7.50 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Uniti Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. started coverage on shares of Uniti Group in a research report on Thursday. They set a "neutral" rating and a $7.00 target price for the company. Zacks Research raised shares of Uniti Group from a "strong sell" rating to a "hold" rating in a research report on Thursday, October 9th. Finally, Barclays started coverage on shares of Uniti Group in a research report on Friday, October 3rd. They set an "equal weight" rating and a $6.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $6.63.

Uniti Group Stock Up 3.4%

UNIT traded up $0.20 during midday trading on Friday, hitting $6.00. The company had a trading volume of 2,338,533 shares, compared to its average volume of 2,440,230. Uniti Group has a 52 week low of $5.30 and a 52 week high of $12.62. The company has a market capitalization of $887.88 million, a price-to-earnings ratio of 21.08 and a beta of 1.56. The stock's 50 day moving average price is $6.22 and its 200 day moving average price is $5.30.

Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $304.06 million. During the same period last year, the firm posted $0.34 earnings per share. The company's revenue for the quarter was up 2.0% on a year-over-year basis. Uniti Group has set its FY 2025 guidance at EPS. Research analysts predict that Uniti Group will post 1.28 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV bought a new position in shares of Uniti Group during the 1st quarter valued at approximately $28,000. Allworth Financial LP lifted its stake in Uniti Group by 775.7% in the second quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 6,919 shares during the last quarter. Park Avenue Securities LLC purchased a new position in Uniti Group in the second quarter valued at approximately $45,000. Osaic Holdings Inc. grew its holdings in Uniti Group by 20.6% during the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 1,795 shares during the period. Finally, American Century Companies Inc. purchased a new stake in Uniti Group in the first quarter worth $65,000. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

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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