Uniti Group Inc (NASDAQ:UNIT) Receives Consensus Rating of “Hold” from Analysts

Shares of Uniti Group Inc (NASDAQ:UNIT) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $12.83.

A number of research firms have commented on UNIT. BidaskClub upgraded shares of Uniti Group from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research downgraded shares of Uniti Group from a “buy” rating to a “hold” rating in a report on Saturday, July 13th.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rocky Mountain Advisers LLC increased its holdings in Uniti Group by 1,566.7% in the 1st quarter. Rocky Mountain Advisers LLC now owns 7,500 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 7,050 shares during the last quarter. Wright Investors Service Inc. acquired a new stake in Uniti Group in the 1st quarter valued at approximately $378,000. Norges Bank acquired a new stake in Uniti Group in the 4th quarter valued at approximately $23,467,000. Quinn Opportunity Partners LLC acquired a new stake in Uniti Group in the 1st quarter valued at approximately $1,410,000. Finally, Dimensional Fund Advisors LP boosted its position in Uniti Group by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,574,722 shares of the real estate investment trust’s stock valued at $40,090,000 after buying an additional 75,056 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

UNIT stock remained flat at $$8.86 during mid-day trading on Tuesday. 1,443,614 shares of the company’s stock were exchanged, compared to its average volume of 4,051,987. The company has a market capitalization of $1.63 billion, a PE ratio of 3.53, a PEG ratio of 1.34 and a beta of 1.02. Uniti Group has a 12 month low of $7.84 and a 12 month high of $21.33. The company’s fifty day simple moving average is $8.85.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, September 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.26%. Uniti Group’s dividend payout ratio is currently 7.97%.

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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