Uniti Group (NASDAQ:UNIT) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of Uniti Group (NASDAQ:UNIT) from a sell rating to a hold rating in a report released on Tuesday morning, BidAskClub reports.

Several other brokerages have also recently commented on UNIT. ValuEngine upgraded shares of Uniti Group from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of Uniti Group from a hold rating to a buy rating and set a $6.75 price objective on the stock in a research note on Friday, November 15th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $11.96.

NASDAQ:UNIT opened at $6.75 on Tuesday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 2.69, a PEG ratio of 1.10 and a beta of 1.03. Uniti Group has a fifty-two week low of $5.24 and a fifty-two week high of $20.14. The stock has a fifty day moving average price of $7.00 and a 200-day moving average price of $8.36.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Thursday, November 7th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.54). The company had revenue of $263.63 million during the quarter, compared to the consensus estimate of $270.14 million. Uniti Group had a negative return on equity of 2.17% and a net margin of 3.06%. On average, analysts expect that Uniti Group will post 2.04 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.22 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 13.04%. This is a boost from Uniti Group’s previous quarterly dividend of $0.05. Uniti Group’s dividend payout ratio is 7.97%.

Institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its position in Uniti Group by 4.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 74,565 shares of the real estate investment trust’s stock valued at $708,000 after buying an additional 3,262 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Uniti Group by 4.0% during the second quarter. Arizona State Retirement System now owns 133,657 shares of the real estate investment trust’s stock valued at $1,270,000 after purchasing an additional 5,138 shares in the last quarter. Strs Ohio acquired a new stake in shares of Uniti Group during the second quarter valued at about $469,000. Mcmillion Capital Management Inc. bought a new stake in shares of Uniti Group during the second quarter worth about $73,000. Finally, KBC Group NV grew its holdings in shares of Uniti Group by 78.0% during the second quarter. KBC Group NV now owns 125,062 shares of the real estate investment trust’s stock worth $1,188,000 after purchasing an additional 54,805 shares during the last quarter. 81.59% 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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Analyst Recommendations for Uniti Group (NASDAQ:UNIT)

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