Uniti Group (NASDAQ:UNIT) Stock Rating Upgraded by Wall Street Zen

Uniti Group (NASDAQ:UNIT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Uniti Group from $7.50 to $7.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. JPMorgan Chase & Co. assumed coverage on shares of Uniti Group in a research note on Thursday, October 23rd. They set a “neutral” rating and a $7.00 target price on the stock. Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 9th. Weiss Ratings cut Uniti Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, December 1st. Finally, Barclays began coverage on Uniti Group in a research note on Friday, October 3rd. They issued an “equal weight” rating and a $6.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Uniti Group has an average rating of “Hold” and an average target price of $6.55.

Uniti Group Trading Down 2.7%

Shares of NASDAQ:UNIT opened at $6.39 on Friday. The stock has a 50 day moving average of $6.07 and a 200 day moving average of $5.66. The company has a market cap of $945.59 million, a PE ratio of 1.25 and a beta of 1.49. Uniti Group has a 12-month low of $5.30 and a 12-month high of $12.62.

Institutional Investors Weigh In On Uniti Group

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP grew its holdings in Uniti Group by 775.7% during the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 6,919 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of Uniti Group during the 2nd quarter valued at approximately $45,000. Osaic Holdings Inc. grew its holdings in shares of Uniti Group by 20.6% in the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,795 shares in the last quarter. American Century Companies Inc. bought a new stake in Uniti Group in the first quarter worth $65,000. Finally, QRG Capital Management Inc. purchased a new stake in Uniti Group during the second quarter valued at $68,000. 87.51% of the stock is currently owned by hedge funds and other 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.