Uniti Group (UNIT) Rating Lowered to Strong Sell at ValuEngine

ValuEngine cut shares of Uniti Group (NASDAQ:UNIT) from a sell rating to a strong sell rating in a research report report published on Monday, April 1st, ValuEngine reports.

Several other analysts also recently weighed in on UNIT. Deutsche Bank lowered their target price on Uniti Group from $20.00 to $8.00 and set a hold rating for the company in a research note on Friday, March 22nd. Citigroup lowered their target price on Uniti Group from $11.00 to $8.00 and set a sell rating for the company in a research note on Tuesday, March 19th. BidaskClub upgraded Uniti Group from a sell rating to a hold rating in a research note on Saturday, March 16th. Zacks Investment Research downgraded Uniti Group from a hold rating to a sell rating in a research note on Friday, March 8th. Finally, Wells Fargo & Co downgraded Uniti Group from a market perform rating to an underperform rating and lifted their price target for the stock from $8.00 to $23.00 in a research note on Tuesday, March 5th. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Uniti Group has an average rating of Hold and an average price target of $15.00.

Shares of UNIT traded up $0.18 during trading hours on Monday, hitting $11.48. The stock had a trading volume of 2,652,125 shares, compared to its average volume of 4,694,899. Uniti Group has a 12-month low of $8.06 and a 12-month high of $23.42. The firm has a market capitalization of $2.07 billion, a P/E ratio of 4.57, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Wednesday, March 20th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.58). Uniti Group had a net margin of 0.91% and a negative return on equity of 0.67%. The company had revenue of $270.75 million during the quarter, compared to analysts’ expectations of $267.00 million. During the same period last year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts forecast that Uniti Group will post 2.18 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 29th. This represents a $0.20 dividend on an annualized basis and a yield of 1.74%. Uniti Group’s payout ratio is currently 7.97%.

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its stake in Uniti Group by 216.9% in the first quarter. BNP Paribas Arbitrage SA now owns 94,378 shares of the real estate investment trust’s stock valued at $1,056,000 after acquiring an additional 64,598 shares during the period. Rocky Mountain Advisers LLC boosted its stake in Uniti Group by 1,566.7% in the first quarter. Rocky Mountain Advisers LLC now owns 7,500 shares of the real estate investment trust’s stock valued at $84,000 after acquiring an additional 7,050 shares during the period. Wright Investors Service Inc. bought a new stake in shares of Uniti Group during the first quarter valued at approximately $378,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Uniti Group during the first quarter valued at approximately $403,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Uniti Group by 17.4% during the first quarter. Nisa Investment Advisors LLC now owns 90,265 shares of the real estate investment trust’s stock valued at $1,010,000 after buying an additional 13,365 shares during the last quarter. Institutional investors own 72.20% 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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