Uniti Group (UNIT) Given New $8.00 Price Target at Deutsche Bank

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Uniti Group (NASDAQ:UNIT) had its target price reduced by Deutsche Bank from $20.00 to $8.00 in a report published on Friday. They currently have a hold rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Uniti Group from a strong sell rating to a hold rating in a research note on Saturday, January 5th. ValuEngine raised shares of Uniti Group from a sell rating to a hold rating in a research note on Friday, November 30th. BidaskClub cut shares of Uniti Group from a strong-buy rating to a buy rating in a research note on Saturday, December 15th. Wells Fargo & Co cut shares of Uniti Group from an outperform rating to a market perform rating and dropped their price target for the stock from $23.00 to $17.00 in a research note on Tuesday, January 8th. Finally, Morgan Stanley cut shares of Uniti Group from an equal weight rating to an underweight rating and dropped their price target for the stock from $24.00 to $16.00 in a research note on Wednesday, December 12th. Six equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has an average rating of Sell and an average target price of $15.00.

UNIT stock opened at $10.20 on Friday. Uniti Group has a 12 month low of $8.06 and a 12 month high of $23.42. The stock has a market cap of $1.79 billion, a P/E ratio of 4.06, a PEG ratio of 1.49 and a beta of 1.04.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Wednesday, March 20th. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.58). Uniti Group had a negative return on equity of 0.67% and a net margin of 0.91%. The firm had revenue of $270.75 million for the quarter, compared to analysts’ expectations of $267.00 million. During the same period in the prior year, the firm posted $0.64 earnings per share. Uniti Group’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, analysts predict that Uniti Group will post 2.22 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 29th. This represents a $0.20 annualized dividend and a yield of 1.96%. Uniti Group’s dividend payout ratio (DPR) is 95.62%.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Uniti Group by 9.2% in the 3rd quarter. Vanguard Group Inc. now owns 24,299,028 shares of the real estate investment trust’s stock valued at $489,626,000 after buying an additional 2,051,974 shares during the period. Vanguard Group Inc boosted its position in Uniti Group by 9.2% in the 3rd quarter. Vanguard Group Inc now owns 24,299,028 shares of the real estate investment trust’s stock valued at $489,626,000 after buying an additional 2,051,974 shares during the period. Bank of Montreal Can boosted its position in Uniti Group by 15,343.2% in the 4th quarter. Bank of Montreal Can now owns 4,285,801 shares of the real estate investment trust’s stock valued at $66,729,000 after buying an additional 4,258,049 shares during the period. Nomura Holdings Inc. purchased a new stake in Uniti Group in the 4th quarter valued at about $45,727,000. Finally, Dimensional Fund Advisors LP boosted its position in Uniti Group by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,574,722 shares of the real estate investment trust’s stock valued at $40,090,000 after buying an additional 75,056 shares during the period. 72.25% of the stock is owned by institutional investors.

Uniti Group Company Profile

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 September 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 850 wireless towers, and other communications real estate throughout the United States and Latin America.

Read More: Why is Cost of Capital Important?

Analyst Recommendations for Uniti Group (NASDAQ:UNIT)

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