Uniti Group (NASDAQ:UNIT) Stock Price Up 2.6% - Still a Buy?

Shares of Uniti Group Inc. (NASDAQ:UNIT - Get Free Report) traded up 2.6% during mid-day trading on Friday . The stock traded as high as $4.88 and last traded at $4.97. 1,098,403 shares were traded during trading, a decline of 59% from the average session volume of 2,662,086 shares. The stock had previously closed at $4.84.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Raymond James raised Uniti Group from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $6.00 to $8.00 in a research report on Monday, February 24th. Royal Bank of Canada upped their price objective on Uniti Group from $5.50 to $6.00 and gave the company a "sector perform" rating in a report on Monday, December 23rd.

Uniti Group Trading Up 2.2 %

The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 12.29 and a beta of 1.70. The firm's 50 day simple moving average is $5.37 and its two-hundred day simple moving average is $5.54.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. The company had revenue of $293.32 million during the quarter, compared to the consensus estimate of $294.59 million. As a group, equities research analysts anticipate that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Golden State Equity Partners raised its stake in Uniti Group by 9.5% during the fourth quarter. Golden State Equity Partners now owns 23,105 shares of the real estate investment trust's stock worth $127,000 after acquiring an additional 2,000 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Uniti Group by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust's stock valued at $572,000 after purchasing an additional 2,328 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Uniti Group by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 255,119 shares of the real estate investment trust's stock valued at $1,402,000 after purchasing an additional 2,397 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Uniti Group by 10.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,834 shares of the real estate investment trust's stock worth $137,000 after purchasing an additional 2,447 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Uniti Group by 3.6% in the 4th quarter. Arizona State Retirement System now owns 70,798 shares of the real estate investment trust's stock valued at $389,000 after purchasing an additional 2,460 shares during the last quarter. Institutional investors own 87.51% of the company's stock.

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.