Uniti Group Inc (NASDAQ:UNIT) has been given a consensus rating of “Hold” by the eight brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $25.80.
Several analysts recently commented on the stock. BidaskClub downgraded shares of Uniti Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 16th. Citigroup downgraded shares of Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 target price for the company. in a report on Wednesday, July 18th. Zacks Investment Research downgraded shares of Uniti Group from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. ValuEngine raised shares of Uniti Group from a “strong sell” rating to a “sell” rating in a report on Friday, July 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $22.00 target price on shares of Uniti Group in a report on Friday, August 17th.
Shares of UNIT stock opened at $19.01 on Wednesday. The stock has a market cap of $3.54 billion, a P/E ratio of 7.62, a P/E/G ratio of 0.93 and a beta of 0.77. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of -0.04. Uniti Group has a 52 week low of $13.94 and a 52 week high of $23.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 12.62%. The ex-dividend date is Thursday, September 27th. Uniti Group’s dividend payout ratio is currently 95.62%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Quad Cities Investment Group LLC bought a new stake in Uniti Group in the 2nd quarter valued at about $111,000. Winslow Evans & Crocker Inc. boosted its holdings in Uniti Group by 16,322.2% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 5,912 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 5,876 shares during the period. Qube Research & Technologies Ltd bought a new stake in Uniti Group in the 2nd quarter valued at about $132,000. Sei Investments Co. boosted its holdings in Uniti Group by 48.5% in the 1st quarter. Sei Investments Co. now owns 9,388 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 3,067 shares during the period. Finally, Cornerstone Wealth Management LLC bought a new stake in Uniti Group in the 2nd quarter valued at about $629,000. 71.33% of the stock is owned by hedge funds and other 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 June 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 770 wireless towers, and other communications real estate throughout the United States and Latin America.
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