Uniti Group (NASDAQ:UNIT) Trading Down 7.3% – Should You Sell?

Uniti Group Inc. (NASDAQ:UNIT) shares fell 7.3% during trading on Thursday . The company traded as low as $4.74 and last traded at $4.77. 1,763,202 shares changed hands during trading, a decline of 15% from the average session volume of 2,068,540 shares. The stock had previously closed at $5.14.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada raised their price target on Uniti Group from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research note on Monday, December 23rd. Raymond James upgraded Uniti Group from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $6.00 to $8.00 in a research note on Monday, February 24th.

Uniti Group Trading Down 7.6 %

The company has a market capitalization of $1.16 billion, a PE ratio of 11.59 and a beta of 1.70. The firm’s 50-day simple moving average is $5.53 and its 200-day simple moving average is $5.51.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $293.32 million during the quarter, compared to analyst estimates of $294.59 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. As a group, analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current year.

Institutional Trading of Uniti Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC increased its position in Uniti Group by 51.3% during the 4th quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 2,870 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Uniti Group during the fourth quarter valued at approximately $68,000. Pitcairn Co. purchased a new position in Uniti Group during the third quarter valued at approximately $69,000. Virtu Financial LLC bought a new position in Uniti Group in the third quarter worth approximately $70,000. Finally, Handelsbanken Fonder AB purchased a new stake in Uniti Group during the fourth quarter worth $71,000. 87.51% of the stock is currently owned by 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.