Wall Street Zen Upgrades Uniti Group (NASDAQ:UNIT) to Hold

Uniti Group (NASDAQ:UNIT) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other research analysts have also recently issued research reports about the stock. Barclays restated a “positive” rating and set a $7.00 target price on shares of Uniti Group in a research note on Tuesday, January 13th. JPMorgan Chase & Co. assumed coverage on Uniti Group in a research report on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Uniti Group in a research report on Monday, December 29th. Wells Fargo & Company decreased their target price on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Finally, Zacks Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Uniti Group currently has a consensus rating of “Hold” and an average price target of $6.86.

Uniti Group Price Performance

Shares of NASDAQ:UNIT opened at $7.51 on Friday. The company has a market capitalization of $1.11 billion, a P/E ratio of 1.47 and a beta of 1.45. Uniti Group has a 1-year low of $5.30 and a 1-year high of $12.34. The firm’s 50 day simple moving average is $6.85 and its two-hundred day simple moving average is $6.28.

Hedge Funds Weigh In On Uniti Group

Several institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Uniti Group by 775.7% in the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 6,919 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Uniti Group in the second quarter valued at $45,000. Osaic Holdings Inc. increased its position in Uniti Group by 20.6% in the second 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 last quarter. QRG Capital Management Inc. purchased a new stake in Uniti Group during the second quarter valued at $68,000. Finally, FNY Investment Advisers LLC bought a new position in Uniti Group during the third quarter valued at $75,000. 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 that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.