Uniti Group (NASDAQ:UNIT) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Uniti Group (NASDAQ:UNIT) from a buy rating to a hold rating in a research note published on Monday, April 2nd.

Several other analysts also recently commented on the stock. BidaskClub upgraded shares of Uniti Group from a sell rating to a hold rating in a report on Saturday, March 17th. Cowen set a $26.00 target price on shares of Uniti Group and gave the stock a buy rating in a report on Friday, March 2nd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $25.57.

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Shares of NASDAQ UNIT traded up $0.22 during mid-day trading on Monday, hitting $16.66. The company’s stock had a trading volume of 1,559,513 shares, compared to its average volume of 2,112,573. The firm has a market capitalization of $2,837.09, a PE ratio of 6.64, a price-to-earnings-growth ratio of 0.87 and a beta of 0.72. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of -0.05. Uniti Group has a one year low of $13.81 and a one year high of $27.78.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings data on Thursday, March 1st. The real estate investment trust reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.62. The firm had revenue of $246.30 million for the quarter, compared to the consensus estimate of $246.90 million. Uniti Group’s revenue for the quarter was up 19.0% on a year-over-year basis. equities research analysts anticipate that Uniti Group will post 2.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Friday, March 30th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $2.40 annualized dividend and a dividend yield of 14.41%. Uniti Group’s dividend payout ratio is presently 95.62%.

Large investors have recently added to or reduced their stakes in the stock. Creative Planning bought a new position in shares of Uniti Group in the fourth quarter valued at $188,000. MML Investors Services LLC bought a new position in Uniti Group during the fourth quarter worth $223,000. Alps Advisors Inc. bought a new position in Uniti Group during the fourth quarter worth $229,000. Driehaus Capital Management LLC bought a new position in Uniti Group during the fourth quarter worth $249,000. Finally, Elkfork Partners LLC bought a new position in Uniti Group during the fourth quarter worth $265,000. 76.31% of the stock is owned by institutional investors and hedge funds.

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Uniti Group Company Profile

Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Uniti Group (NASDAQ:UNIT)

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