Uniti Group (UNIT) Lowered to Sell at ValuEngine

ValuEngine lowered shares of Uniti Group (NASDAQ:UNIT) from a hold rating to a sell rating in a report released on Friday.

Several other research firms have also commented on UNIT. BidaskClub lowered shares of Uniti Group from a strong-buy rating to a buy rating in a report on Saturday, September 1st. Zacks Investment Research lowered shares of Uniti Group from a hold rating to a sell rating in a report on Wednesday, November 7th. Royal Bank of Canada reaffirmed a buy rating and issued a $22.00 price target on shares of Uniti Group in a report on Friday, August 17th. Finally, Cowen set a $28.00 price target on shares of Uniti Group and gave the company a buy rating in a report on Saturday, August 11th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $25.80.

UNIT stock traded up $0.51 during mid-day trading on Friday, hitting $19.22. 987,528 shares of the company were exchanged, compared to its average volume of 1,502,230. The firm has a market cap of $3.44 billion, a P/E ratio of 7.69, a P/E/G ratio of 0.90 and a beta of 0.76. Uniti Group has a twelve month low of $13.94 and a twelve month high of $23.42.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). Uniti Group had a net margin of 1.76% and a negative return on equity of 1.33%. The business had revenue of $252.60 million during the quarter, compared to analyst estimates of $253.97 million. During the same period last year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that Uniti Group will post 2.45 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 12.49%. The ex-dividend date of this dividend is Friday, December 28th. Uniti Group’s dividend payout ratio (DPR) is presently 95.62%.

Several hedge funds and other institutional investors have recently bought and sold shares of UNIT. Truvestments Capital LLC acquired a new position in shares of Uniti Group in the 3rd quarter valued at about $101,000. Quad Cities Investment Group LLC acquired a new position in shares of Uniti Group in the 2nd quarter valued at about $111,000. Qube Research & Technologies Ltd acquired a new position in shares of Uniti Group in the 2nd quarter valued at about $132,000. Independent Advisor Alliance acquired a new position in shares of Uniti Group in the 3rd quarter valued at about $211,000. Finally, Hsbc Holdings PLC bought a new stake in Uniti Group in the 3rd quarter valued at about $211,000. 70.09% of the stock is owned by institutional investors and hedge funds.

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

Analyst Recommendations for Uniti Group (NASDAQ:UNIT)

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