In a report released today, Simon Flannery from Morgan Stanley maintained a Sell rating on Uniti Group (UNIT – Research Report), with a price target of $6.00. The company’s shares opened today at $3.72.
According to TipRanks, Flannery is ranked #1001 out of 8320 analysts.
Currently, the analyst consensus on Uniti Group is a Hold with an average price target of $4.50.
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Based on Uniti Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $289.82 million and a GAAP net loss of $19.45 million. In comparison, last year the company earned a revenue of $278.03 million and had a net profit of $52.39 million
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of UNIT in relation to earlier this year.
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Uniti Group, Inc. is a real estate investment trust company, which is engaged in the acquisition and construction of mission infrastructure in the communications industry. It operates through the following business segments: Leasing, Fiber Infrastructure, Towers, Consumer CLEC, and Corporate. The Leasing segment represents the real estate investment trust operations of the company and includes the results from leasing business, Uniti leasing, which engages in the acquisition of mission-critical communications assets and leasing them to anchor customers on either and exclusive or shared-tenant basis. The Fiber Infrastructure segment refers to the operations of the fiber business of the company, Uniti Fiber, which provides infrastructure solutions, including cell site backhaul and dark fiber, to the telecommunications industry. The Towers segment encompasses Uniti Towers, which acquires and construct tower-related real estate in the United States and Latin America. The Consumer CLEC segment is the operations of Talk America, which provides local telephone, high-speed internet and long distance services to customers in the eastern and central United States. The Corporate segment is consist of corporate and back office functions of the company. The company was founded in February 2014 and is headquartered in Little Rock, AR.
Read More on UNIT:
- Uniti Group Inc. to Present at the Nareit 2023 REITweek Investor Conference
- Uniti Group Inc. to Present at the TD Cowen 51st Annual Technology, Media & Telecom Conference
- Uniti Launches 100G+ MPLS Core Network to Enhance Capacity and Speed to Market
- CORRECTION – Uniti Group Inc. Reports First Quarter 2023 Results
- Uniti Group Inc. Reports First Quarter 2023 Results
