Uniti Group (NASDAQ:UNIT) Upgraded at Raymond James

Raymond James upgraded shares of Uniti Group (NASDAQ:UNIT) from an outperform rating to a strong-buy rating in a report released on Monday morning, Marketbeat.com reports. Raymond James currently has $8.00 target price on the real estate investment trust’s stock, up from their previous target price of $6.00.

Separately, Royal Bank of Canada boosted their price objective on shares of Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a research report on Monday, December 23rd.

Uniti Group Stock Down 3.4 %

Shares of NASDAQ:UNIT opened at $5.70 on Monday. The company has a market cap of $1.39 billion, a P/E ratio of 13.90 and a beta of 1.31. The company’s fifty day moving average is $5.55 and its two-hundred day moving average is $5.43. Uniti Group has a 12-month low of $2.57 and a 12-month high of $6.71.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. The firm had revenue of $293.32 million for the quarter, compared to analyst estimates of $294.59 million. Equities research analysts anticipate that Uniti Group will post 1.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UNIT. Michels Family Financial LLC acquired a new stake in shares of Uniti Group during the 4th quarter valued at about $558,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Uniti Group by 16.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 683,626 shares of the real estate investment trust’s stock valued at $3,760,000 after acquiring an additional 94,903 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in Uniti Group by 52.3% in the fourth quarter. Voloridge Investment Management LLC now owns 510,504 shares of the real estate investment trust’s stock valued at $2,808,000 after acquiring an additional 175,308 shares during the last quarter. Two Sigma Advisers LP grew its position in Uniti Group by 276.0% in the fourth quarter. Two Sigma Advisers LP now owns 254,200 shares of the real estate investment trust’s stock worth $1,398,000 after acquiring an additional 186,600 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of Uniti Group during the 4th quarter worth $98,000. 87.51% of the stock is owned by institutional investors and hedge funds.

About Uniti Group

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.