Uniti Group Inc (NASDAQ:UNIT) Receives Average Rating of “Sell” from Brokerages

Uniti Group Inc (NASDAQ:UNIT) has earned an average recommendation of “Sell” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $12.83.

Several equities analysts recently weighed in on UNIT shares. BidaskClub upgraded shares of Uniti Group from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. Zacks Investment Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 11th. Finally, ValuEngine upgraded shares of Uniti Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd.

Shares of NASDAQ:UNIT traded down $0.11 during midday trading on Friday, hitting $7.65. 1,575,526 shares of the company’s stock traded hands, compared to its average volume of 1,787,012. The company has a market cap of $1.50 billion, a PE ratio of 3.05, a P/E/G ratio of 1.29 and a beta of 1.07. The firm’s fifty day moving average price is $7.58 and its two-hundred day moving average price is $9.41. Uniti Group has a twelve month low of $6.93 and a twelve month high of $20.63.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.05 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.20 dividend on an annualized basis and a yield of 2.62%. Uniti Group’s dividend payout ratio is currently 7.97%.

A number of hedge funds have recently modified their holdings of UNIT. Griffin Asset Management Inc. bought a new stake in shares of Uniti Group in the 2nd quarter worth about $28,000. Mcmillion Capital Management Inc. bought a new stake in shares of Uniti Group in the 2nd quarter worth about $73,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Uniti Group by 21.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,526 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 2,048 shares during the last quarter. Ford Financial Group Inc. bought a new stake in shares of Uniti Group in the 2nd quarter worth about $103,000. Finally, Parallax Volatility Advisers L.P. increased its position in shares of Uniti Group by 702.8% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 12,219 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 10,697 shares during the last quarter. Hedge funds and other institutional investors own 77.28% 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 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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Analyst Recommendations for Uniti Group (NASDAQ:UNIT)

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