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An overview of Uniti Group Inc.’s (UNIT) institutional holdings

December 9, 2022
in Finance

The price of Uniti Group Inc. (NASDAQ:UNIT) shares last traded on Wall Street fell -1.73% to $5.97.

Based on available information, 10 analysts follow Uniti Group Inc. (NASDAQ:UNIT). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $7.00, we find $9.00. Given the previous closing price of $6.07, this indicates a potential upside of 48.27 percent. UNIT stock price is now -17.38% away from the 50-day moving average and -40.66% away from the 200-day moving average. The market capitalization of the company currently stands at $1.42B.

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Among analysts, 6 rate the stock a hold while 3 rate it a buy. Brokers who have rated the stock have averaged $10.33 as their price target over the next twelve months.

With the price target enhanced from $6 to $10, Citigroup Upgraded its rating from Sell to Neutral for Uniti Group Inc. (NASDAQ: UNIT). On August 12, 2020, Wells Fargo Upgraded its previous ‘Underweight’ rating to ‘Equal Weight’ on the stock keeping its target price maintained at $10, while ‘Barclays’ rates the stock as ‘Equal Weight’.

Insiders disposed of 228,625 shares of company stock worth roughly $1.36 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in UNIT stock. A new stake in Uniti Group Inc. shares was purchased by AARON WEALTH ADVISORS LLC during the first quarter worth $8,114,000. GREAT WEST LIFE ASSURANCE CO /CAN/ invested $1,751,000 in shares of UNIT during the first quarter. In the first quarter, AMALGAMATED FINANCIAL CORP. acquired a new stake in Uniti Group Inc. valued at approximately $610,000. VESTCOR INC acquired a new stake in UNIT for approximately $559,000. CORNERCAP INVESTMENT COUNSEL INC purchased a new stake in UNIT valued at around $529,000 in the second quarter. In total, there are 398 active investors with 86.60% ownership of the company’s stock.

A candlestick chart of Uniti Group Inc. (NASDAQ: UNIT) showed a price of $6.04 on Thursday morning. During the past 12 months, Uniti Group Inc. has had a low of $5.98 and a high of $14.27. The fifty day moving average price for UNIT is $7.23 and a two-hundred day moving average price translates $10.06 for the stock.

The latest earnings results from Uniti Group Inc. (NASDAQ: UNIT) was released for Jun, 2022. According to the REIT – Specialty Company, earnings per share came in at $0.21, beating analysts’ expectations of $0.18 by 0.03. This compares to $0.17 EPS in the same period last year. The net profit margin was -1.30% and return on equity was 0.70% for UNIT. The company reported revenue of $283.1 million for the quarter, compared to $266.75 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.13 percent. For the current quarter, analysts expect UNIT to generate $283.21M in revenue.

Moreover, the firm recently paid out its quarterly dividend on 12/30/2022. Investors who held shares on 12/16/2022 were paid a $0.15 dividend. On an annualized basis, this represents a $0.60 dividend and a 10.05% percent yield. There was an ex-dividend date of 12/15/2022 for this dividend.

Uniti Group Inc.(UNIT) 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, 2020, Uniti owns 6.7 million fiber strand miles and other communications real estate throughout the United States.

Tags: NASDAQ:UNITUNITUNIT stockUniti Group Inc.

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