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Uniti Group Inc - Stock Quote UNIT

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Morningstar's Uniti Group Inc Stock Analysis

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With the Windstream Lease Dominating Its Business, Uniti's Results Should Be Very Predictable

Matthew Dolgin, CFA Equity Analyst

Business Strategy and Outlook

| Matthew Dolgin, CFA |

With its lease renegotiation with Windstream (which makes up about 60% of Uniti revenue and over 80% of EBITDA) now finalized, Uniti is on much more stable financial footing and can continue on the path it was on prior to the Windstream uncertainty, maintaining itself with reliable returns and cash flow from Windstream while diversifying its business and adding more indefeasible rights of use agreements on its fiber, which carry long-term certainty and virtually no operating costs.

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Key Statistics - UNIT

Uniti Group Inc's Company Profile

Business Description

Uniti is a REIT with about 130,000 route miles of fiber in the U.S., primarily in the Southeast. Uniti reports its business in two segments: leasing and fiber. Leasing currently makes up about two thirds of total revenue and consists mostly of Uniti's master lease agreement with Windstream. Uniti was spun out of Windstream in 2015 with a substantial portion of Windstream's network assets, and it immediately leased the entire portfolio back for Windstream's exclusive use. Other leasing revenue stems from sale-leaseback transactions with other fiber holders. Uniti generates fiber revenue by leasing dark and lit fiber to wireless carriers and other enterprises.

2101 Riverfront Drive, Suite A
Little Rock, AR, 72202
T +1 501 850-0820
Industry REIT - Specialty
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Distressed
Employees 754