Uniti Group (NASDAQ:UNIT) Given New $12.00 Price Target at JPMorgan Chase & Co.

Uniti Group (NASDAQ:UNIT) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $8.00 to $12.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 8.95% from the stock’s current price.

Several other research analysts have also recently weighed in on UNIT. Zacks Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Citigroup lifted their price objective on shares of Uniti Group from $8.80 to $9.00 and gave the stock a “neutral” rating in a research report on Monday, March 9th. Williams Trading set a $12.00 price objective on shares of Uniti Group in a research report on Tuesday. Wells Fargo & Company lifted their price objective on shares of Uniti Group from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, TD Cowen reissued a “buy” rating and issued a $12.00 price target (up from $10.00) on shares of Uniti Group in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.61.

Uniti Group Price Performance

Shares of NASDAQ UNIT traded down $0.36 during mid-day trading on Tuesday, reaching $11.01. 877,378 shares of the company’s stock traded hands, compared to its average volume of 2,338,704. The stock has a market cap of $2.67 billion, a P/E ratio of 2.91 and a beta of 1.44. The business has a 50-day simple moving average of $9.68 and a 200 day simple moving average of $7.99. Uniti Group has a 1-year low of $5.30 and a 1-year high of $12.39.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The firm had revenue of $987.50 million during the quarter, compared to analysts’ expectations of $930.08 million. Uniti Group had a net margin of 55.60% and a negative return on equity of 2.52%. The business’s revenue was up 236.0% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. Equities research analysts anticipate that Uniti Group will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Uniti Group

A number of hedge funds and other institutional investors have recently bought and sold shares of UNIT. Hilton Head Capital Partners LLC bought a new stake in Uniti Group during the 4th quarter worth approximately $40,000. KBC Group NV bought a new stake in Uniti Group during the 1st quarter worth approximately $43,000. Osaic Holdings Inc. increased its holdings in Uniti Group by 20.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,795 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Uniti Group during the 4th quarter worth approximately $72,000. Finally, FNY Investment Advisers LLC purchased a new position in Uniti Group in the 3rd quarter worth approximately $75,000. Institutional investors 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.