Uniti Group (NASDAQ:UNIT) received a $28.00 price objective from research analysts at Cowen in a research note issued to investors on Saturday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Cowen’s price target would suggest a potential upside of 48.94% from the stock’s current price.

UNIT has been the subject of several other reports. ValuEngine lowered Uniti Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. BidaskClub lowered Uniti Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 21st. Citigroup lowered Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 price objective for the company. in a research note on Wednesday, July 18th. Morgan Stanley lowered Uniti Group from an “overweight” rating to an “equal weight” rating and set a $24.00 price objective for the company. in a research note on Thursday, June 14th. Finally, Zacks Investment Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $25.57.

Shares of UNIT traded up $0.37 on Friday, reaching $18.80. 2,792,179 shares of the company’s stock traded hands, compared to its average volume of 2,624,625. Uniti Group has a 52-week low of $13.81 and a 52-week high of $23.42. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 0.84 and a beta of 0.66. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of -0.04.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings data on Thursday, August 9th. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.65). Uniti Group had a net margin of 1.83% and a negative return on equity of 1.50%. The firm had revenue of $247.30 million for the quarter, compared to the consensus estimate of $250.07 million. During the same period last year, the company posted $0.60 earnings per share. Uniti Group’s revenue for the quarter was up 16.1% on a year-over-year basis. equities research analysts predict that Uniti Group will post 2.51 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB raised its position in Uniti Group by 11.9% during the second quarter. Xact Kapitalforvaltning AB now owns 25,434 shares of the real estate investment trust’s stock valued at $509,000 after purchasing an additional 2,700 shares in the last quarter. Chicago Equity Partners LLC increased its holdings in shares of Uniti Group by 10.5% in the second quarter. Chicago Equity Partners LLC now owns 32,220 shares of the real estate investment trust’s stock worth $645,000 after buying an additional 3,055 shares during the period. Arizona State Retirement System increased its holdings in shares of Uniti Group by 2.7% in the second quarter. Arizona State Retirement System now owns 114,668 shares of the real estate investment trust’s stock worth $2,297,000 after buying an additional 3,062 shares during the period. Sei Investments Co. increased its holdings in shares of Uniti Group by 48.5% in the first quarter. Sei Investments Co. now owns 9,388 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 3,067 shares during the period. Finally, American Asset Management Inc. increased its holdings in shares of Uniti Group by 20.8% in the second quarter. American Asset Management Inc. now owns 19,450 shares of the real estate investment trust’s stock worth $390,000 after buying an additional 3,346 shares during the period. Institutional investors and hedge funds own 74.88% of the company’s stock.

Uniti Group Company Profile

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of March 31, 2018, Uniti owns 5.0 million fiber strand miles, approximately 700 wireless towers, and other communications real estate throughout the United States and Latin America.

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Analyst Recommendations for Uniti Group (NASDAQ:UNIT)

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