Uniti Group (NASDAQ:UNIT) Raised to Strong-Buy at Raymond James

Uniti Group (NASDAQ:UNIT) was upgraded by Raymond James from an “outperform” rating to a “strong-buy” rating in a report released on Monday,Briefing.com Automated Import reports. The firm currently has a $8.00 price target on the real estate investment trust’s stock, up from their previous price target of $6.00. Raymond James’ price objective points to a potential upside of 42.35% from the stock’s previous close.

Separately, Royal Bank of Canada increased their price target on Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a report on Monday, December 23rd.

Uniti Group Price Performance

NASDAQ UNIT opened at $5.62 on Monday. The business’s fifty day moving average price is $5.56 and its 200-day moving average price is $5.41. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 13.71 and a beta of 1.31. Uniti Group has a 1-year low of $2.57 and a 1-year high of $6.71.

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

Institutional Investors Weigh In On Uniti Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Uniti Group by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,937,013 shares of the real estate investment trust’s stock worth $43,654,000 after purchasing an additional 62,377 shares in the last quarter. Geode Capital Management LLC increased its stake in Uniti Group by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 6,317,569 shares of the real estate investment trust’s stock worth $34,754,000 after buying an additional 101,702 shares in the last quarter. Apollo Management Holdings L.P. increased its stake in Uniti Group by 4.6% in the 4th quarter. Apollo Management Holdings L.P. now owns 5,239,917 shares of the real estate investment trust’s stock worth $28,820,000 after buying an additional 231,977 shares in the last quarter. Northern Trust Corp increased its stake in Uniti Group by 12.0% in the 4th quarter. Northern Trust Corp now owns 2,748,895 shares of the real estate investment trust’s stock worth $15,119,000 after buying an additional 295,104 shares in the last quarter. Finally, King Street Capital Management L.P. increased its stake in Uniti Group by 66.7% in the 4th quarter. King Street Capital Management L.P. now owns 2,600,000 shares of the real estate investment trust’s stock worth $14,300,000 after buying an additional 1,040,000 shares in the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Company Profile

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.