Uniti Group (NASDAQ:UNIT) Stock Price Up 4.9% – Should You Buy?

Uniti Group Inc. (NASDAQ:UNIT)’s share price traded up 4.9% on Friday . The stock traded as high as $8.00 and last traded at $7.8920. 118,178 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 2,021,142 shares. The stock had previously closed at $7.52.

Analyst Ratings Changes

A number of research firms have recently commented on UNIT. Wall Street Zen upgraded Uniti Group from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Wells Fargo & Company cut 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 report on Friday, November 7th. Zacks Research raised shares of Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, October 9th. Barclays set a $8.00 target price on shares of Uniti Group in a research note on Thursday. Finally, JPMorgan Chase & Co. assumed coverage on shares of Uniti Group in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $7.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.06.

Uniti Group Price Performance

The stock has a market cap of $1.23 billion, a PE ratio of 1.63 and a beta of 1.45. The stock’s fifty day moving average is $7.06 and its 200-day moving average is $6.45.

Institutional Investors Weigh In On Uniti Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Uniti Group by 38.9% in the 4th quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock valued at $162,651,000 after purchasing an additional 6,494,001 shares during the last quarter. King Street Capital Management L.P. lifted its position in Uniti Group by 36.4% in the second quarter. King Street Capital Management L.P. now owns 6,000,000 shares of the real estate investment trust’s stock valued at $25,920,000 after buying an additional 1,600,000 shares during the last quarter. SG Americas Securities LLC boosted its stake in Uniti Group by 2,208.3% during the fourth quarter. SG Americas Securities LLC now owns 995,163 shares of the real estate investment trust’s stock worth $6,976,000 after buying an additional 952,050 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Uniti Group by 36.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 3,290,053 shares of the real estate investment trust’s stock worth $14,213,000 after purchasing an additional 880,394 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Uniti Group by 23.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock worth $23,207,000 after purchasing an additional 877,911 shares during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Company Profile

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.