BidaskClub Downgrades Uniti Group (NASDAQ:UNIT) to Buy

Uniti Group (NASDAQ:UNIT) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, BidAskClub reports.

A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Uniti Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Raymond James upgraded Uniti Group from an “outperform” rating to a “strong-buy” rating and set a $13.00 price target for the company in a research note on Tuesday, May 12th. Zacks Investment Research downgraded Uniti Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Cowen restated an “outperform” rating and issued a $12.00 target price on shares of Uniti Group in a research note on Sunday, June 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.20.

UNIT stock opened at $8.91 on Tuesday. The stock has a 50-day moving average price of $8.93 and a 200-day moving average price of $7.79. Uniti Group has a 1-year low of $4.86 and a 1-year high of $11.08. The firm has a market cap of $1.73 billion, a PE ratio of -24.08 and a beta of 0.95.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.81). Uniti Group had a negative return on equity of 0.60% and a negative net margin of 6.69%. The business had revenue of $266.16 million during the quarter, compared to the consensus estimate of $262.85 million. On average, equities analysts forecast that Uniti Group will post 1.66 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. Versant Capital Management Inc bought a new stake in shares of Uniti Group in the 1st quarter worth approximately $29,000. Meeder Asset Management Inc. raised its holdings in Uniti Group by 2,168.8% during the 4th quarter. Meeder Asset Management Inc. now owns 5,445 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 5,205 shares during the period. Mutual of America Capital Management LLC raised its holdings in Uniti Group by 22.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 8,610 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 1,587 shares during the period. Wedbush Securities Inc. bought a new position in shares of Uniti Group in the first quarter worth $64,000. Finally, Mackenzie Financial Corp bought a new position in shares of Uniti Group in the first quarter worth $79,000. 81.89% of the stock is currently owned by institutional investors.

About Uniti Group

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 December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.

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