The price of Uniti Group Inc. (NASDAQ:UNIT) shares last traded on Wall Street rose 2.30% to $4.90.
Based on available information, 11 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 $10.00 and a low of $3.00, we find $5.00. Given the previous closing price of $4.79, this indicates a potential upside of 4.38 percent. UNIT stock price is now 23.74% away from the 50-day moving average and -9.57% away from the 200-day moving average. The market capitalization of the company currently stands at $1.14B.
Among analysts, 7 rate the stock a hold while 3 rate it a buy. Brokers who have rated the stock have averaged $6.00 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).
In other news, Gunderman Kenny, President and CEO bought 225,000 shares of the company’s stock on Mar 09. The stock was bought for $983,250 at an average price of $4.37. Upon completion of the transaction, the President and CEO now directly owns 1,372,596 shares in the company, valued at $6.73 million. Insiders disposed of 110,757 shares of company stock worth roughly $0.54 million over the past 1 year. A total of 0.50% 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 MIZUHO MARKETS CAYMAN LP during the first quarter worth $4,796,000. MARSHALL WACE, LLP invested $4,024,000 in shares of UNIT during the first quarter. In the first quarter, LIDO ADVISORS, LLC acquired a new stake in Uniti Group Inc. valued at approximately $2,450,000. EXODUSPOINT CAPITAL MANAGEMENT, LP acquired a new stake in UNIT for approximately $980,000. HOLOCENE ADVISORS, LP purchased a new stake in UNIT valued at around $553,000 in the second quarter. In total, there are 407 active investors with 86.60% ownership of the company’s stock.
A candlestick chart of Uniti Group Inc. (NASDAQ: UNIT) showed a price of $4.8000 on Friday morning. During the past 12 months, Uniti Group Inc. has had a low of $2.94 and a high of $10.44. The fifty day moving average price for UNIT is $3.9976 and a two-hundred day moving average price translates $5.3997 for the stock.
The latest earnings results from Uniti Group Inc. (NASDAQ: UNIT) was released for Mar, 2023. According to the REIT – Specialty Company, earnings per share came in at -$0.08, missing analysts’ expectations of $0.01 by -0.09. This compares to $0.21 EPS in the same period last year. The net profit margin was -7.10% and return on equity was 3.60% for UNIT. The company reported revenue of $289.82 million for the quarter, compared to $278.03 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.24 percent. For the current quarter, analysts expect UNIT to generate $290.38M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/16/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $0.60 dividend and a 12.24% percent yield. There was an ex-dividend date of 06/15/2023 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 fiber and other wireless solutions for the communications industry. As of March 31, 2023, Uniti owns approximately 137,000 fiber route miles, 8.3 million fiber strand miles, and other communications real estate throughout the United States.
