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UNIT Uniti

Uniti Group Inc., 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 wireless infrastructure solutions for the communications industry. As of December 31, 2020, Uniti owns over 123,000 fiber route miles, approximately 6.9 million fiber strand miles, and other communications real estate throughout the United States.

Company profile

Ticker
UNIT
Exchange
Website
CEO
Kenneth Gunderman
Employees
Incorporated
Location
Fiscal year end
Former names
COMMUNICATIONS SALES & LEASING, INC.
SEC CIK
Subsidiaries
ANS Connect LLC • CSL Capital, LLC • Contact Network, LLC • CSL Alabama System, LLC • CSL Arkansas System, LLC • CSL Florida System, LLC • CSL Georgia Realty, LLC • CSL Georgia System, LLC • CSL Iowa System, LLC • CSL Kentucky System, LLC ...

UNIT stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 Aug 21
21 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
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Diluted EPS

Financial data from Uniti earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 108.54M 108.54M 108.54M 108.54M 108.54M 108.54M
Cash burn (monthly) 4.64M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 17.22M n/a n/a n/a n/a n/a
Cash remaining 91.31M n/a n/a n/a n/a n/a
Runway (months of cash) 19.7 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
4 Apr 21 Kenny Gunderman Common Stock Payment of exercise Dispose F No No 11.29 21,066 237.84K 737,305
4 Apr 21 Daniel L Heard Common Stock Payment of exercise Dispose F No No 11.29 2,457 27.74K 135,491
4 Apr 21 Blake Schuhmacher Common Stock Payment of exercise Dispose F No No 11.29 1,030 11.63K 50,756

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

83.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 258 271 -4.8%
Opened positions 27 43 -37.2%
Closed positions 40 48 -16.7%
Increased positions 94 79 +19.0%
Reduced positions 70 84 -16.7%
13F shares
Current Prev Q Change
Total value 2.14B 2.15B -0.6%
Total shares 195.45M 189.06M +3.4%
Total puts 1.48M 1.22M +20.8%
Total calls 3.71M 6.96M -46.7%
Total put/call ratio 0.4 0.2 +126.6%
Largest owners
Shares Value Change
Vanguard 40.29M $426.68M +2.1%
BLK Blackrock 35.38M $374.69M +1.3%
Elliott Investment Management 20.48M $216.84M 0.0%
Allianz Asset Management GmbH 7.74M $82M 0.0%
STT State Street 6.99M $75.06M +5.3%
Searchlight Capital II PV 6.72M $137M 0.0%
Searchlight Capital Partners 6.72M $71.12M 0.0%
FMR 4.91M $52.04M +31.7%
Geode Capital Management 4.33M $45.81M +4.2%
BEN Franklin Resources 3.66M $38.71M +30064.7%
Largest transactions
Shares Bought/sold Change
BEN Franklin Resources 3.66M +3.64M +30064.7%
NMR Nomura 0 -2.4M EXIT
Bracebridge Capital 1.66M +1.66M NEW
FMR 4.91M +1.18M +31.7%
FHI Federated Hermes 2.41M +1.06M +78.8%
Vanguard 40.29M +813.24K +2.1%
Wellington Management 891.6K +670.4K +303.1%
Renaissance Technologies 0 -645.79K EXIT
MS Morgan Stanley 1.43M -609.66K -29.8%
IVZ Invesco 1.84M +579.62K +45.9%

Financial report summary

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Competition
Digital Locations
Risks
  • We expect the settlement with Windstream will require us to raise significant additional capital.
  • We are dependent on Windstream to make payments to us under the Windstream Leases, and an event that materially and adversely affects Windstream’s business, financial position or results of operations could materially and adversely affect our business, financial position or results of operations.
  • If the Spin-Off, together with certain related transactions, fails to qualify as a tax-free transaction for U.S. federal income tax purposes, both we and Windstream could be subject to significant tax liabilities and, in certain circumstances, we could be required to indemnify Windstream for material taxes pursuant to indemnification obligations under the tax matters agreement entered into in connection with the Spin-Off.
  • Our level of indebtedness could materially and adversely affect our financial position, including reducing funds available for other business purposes and reducing our operational flexibility.
  • We anticipate that we will have sufficient access to liquidity to fund our cash needs; if we are unable to do so, we would need to reduce our spending and it could have an adverse effect on us.
  • We intend to pursue acquisitions of additional properties and seek other strategic opportunities, which may result in the use of a significant amount of management resources or significant costs, and we may not fully realize the potential benefits of such transactions.
  • We are dependent on the communications industry and may be susceptible to the risks associated with it, which could materially adversely affect our business, financial position or results of operations.
  • We have identified a material weakness in our internal control over financial reporting which could, if not remediated, result in material misstatements in our financial statements.
  • We rely on information technology in our operations, and any material failure, inadequacy, interruption or security failure of that technology could harm our business.
  • Any failure of Uniti Fiber’s physical infrastructure or services could lead to significant costs and disruptions.
  • Legislative or other actions affecting REITs could have a negative effect on us.
  • We could fail to qualify as a REIT if income we receive from lease transactions, such as income from Windstream pursuant to the Windstream Leases, is not treated as qualifying income.
  • REIT distribution requirements could adversely affect our ability to execute our business plan.
  • A deterioration in Windstream’s financial condition could adversely affect our ability to continue to qualify as a REIT.
  • Complying with the REIT requirements may cause us to forego otherwise attractive acquisition opportunities.
  • We cannot guarantee our ability to pay dividends in the future, and we could elect to pay dividends substantially in the form of additional shares of our common stock.
  • Our charter restricts the ownership and transfer of our outstanding stock, which may have the effect of delaying, deferring or preventing a transaction or change of control of our company.
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • Uniti Group Inc. (the “Company”, “Uniti”, “we”, “us” or “our”) is an independent, internally managed real estate investment trust (“REIT”) engaged in the acquisition, construction and leasing of mission critical infrastructure in the communications industry. We are principally focused on acquiring and constructing fiber optic, copper and coaxial broadband networks and data centers.
  • On April 24, 2015, we were separated and spun-off (the “Spin-Off”) from Windstream Holdings, Inc. (“Windstream Holdings” and together with Windstream Holdings II, LLC, its successor in interest, and its subsidiaries, “Windstream”) pursuant to which Windstream contributed certain telecommunications network assets, including fiber and copper networks and other real estate (the “Distribution Systems”) and a small consumer competitive local exchange carrier (“CLEC”) business (the “Consumer CLEC Business”) to Uniti and Uniti issued common stock and indebtedness and paid cash obtained from borrowings under Uniti’s senior credit facilities to Windstream. In connection with the Spin-Off, we entered into a long-term exclusive triple-net lease (the “Master Lease”) with Windstream, pursuant to which a substantial portion of our real property is leased to Windstream and from which a substantial portion of our leasing revenues are currently derived.  In connection with Windstream’s emergence from bankruptcy, Uniti and Windstream bifurcated the Master Lease and entered into two structurally similar master leases (collectively, the “Windstream Leases”), which amended and restated the Master Lease in its entirety.  The Windstream Leases consist of (a) a master lease (the “ILEC MLA”) that governs Uniti owned assets used for Windstream’s incumbent local exchange carrier (“ILEC”) operations and (b) a master lease (the “CLEC MLA”) that governs Uniti owned assets used for Windstream’s CLEC operations.
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