Uniti Group (NASDAQ:UNIT) Shares Up 2.6% – What’s Next?

Uniti Group Inc. (NASDAQ:UNIT)’s share price traded up 2.6% during trading on Friday . The stock traded as high as $4.88 and last traded at $4.97. 1,098,403 shares traded hands during trading, a decline of 59% from the average session volume of 2,662,086 shares. The stock had previously closed at $4.84.

Analyst Upgrades and Downgrades

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

Uniti Group Trading Up 1.9 %

The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 12.02 and a beta of 1.70. The company has a 50-day moving average of $5.41 and a 200-day moving average of $5.54.

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

Hedge Funds Weigh In On Uniti Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its position in shares of Uniti Group by 206.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 212,489 shares of the real estate investment trust’s stock worth $1,198,000 after buying an additional 143,210 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Uniti Group by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,344,312 shares of the real estate investment trust’s stock valued at $7,394,000 after acquiring an additional 51,241 shares during the period. Franklin Resources Inc. lifted its position in Uniti Group by 2.2% in the third quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust’s stock worth $572,000 after purchasing an additional 2,328 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Uniti Group by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,874,636 shares of the real estate investment trust’s stock valued at $44,413,000 after purchasing an additional 452,411 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Uniti Group by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust’s stock valued at $1,402,000 after purchasing an additional 2,397 shares in the last quarter. 87.51% of the stock is owned by institutional investors.

About Uniti Group

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.