Welcome to our dedicated page for Uniti Group news (Ticker: UNIT), a resource for investors and traders seeking the latest updates and insights on Uniti Group stock.
Uniti Group Inc. (Nasdaq: UNIT) is a publicly traded real estate investment trust (REIT) headquartered in Little Rock, Arkansas. The company is primarily engaged in the acquisition and leasing of communication infrastructure assets. Uniti Group boasts an extensive portfolio including approximately 140,000 route miles of fiber in the United States, with significant coverage in the Southeast region.
Uniti's core business revolves around providing fiber leasing services to enterprises. The company has recently agreed to merge with Windstream, a move that will see Uniti expand its operations into the consumer telecom market. This strategic merger will transition Uniti out of its REIT status, enabling the combined firm to offer both enterprise and residential telecom services, thereby diversifying its revenue streams. Post-merger, the firm will own 217,000 route miles of fiber, covering 4.3 million households and 150,000 commercial buildings.
As a strategic financing partner to the telecommunications industry, Uniti continuously evaluates industry challenges and trends to identify growth opportunities. The company's strategy focuses on acquiring and leasing communication assets that qualify as real property, financing fiber for existing and new customers, and acting as a financing partner to facilitate mergers and acquisitions.
Uniti's recent achievements include updating its 2023 outlook to reflect transaction-related and other incurred costs. The company’s outlook for 2023 remains optimistic, with a consolidated revenue projection that excludes future acquisitions and capital market transactions. Looking ahead to 2024, Uniti has set a comprehensive financial outlook, underscoring its commitment to sustained growth and profitability.
For investor relations and media inquiries, key contacts include Paul Bullington, Senior Vice President, Chief Financial Officer & Treasurer, and Bill DiTullio, Vice President, Investor Relations & Treasury.
- 2023 Financial Outlook: Adjusted projections for transaction-related costs.
- Strategic Merger: Uniti to merge with Windstream, expanding into the consumer telecom market.
- Asset Portfolio: Ownership of 217,000 route miles of fiber post-merger.
- Revenue Streams: Diversified revenue from enterprise and residential telecom services.
Uniti Group has amended its credit agreement, increasing commitments to $500 million under its senior secured revolving credit facility. The amendment allows for greater flexibility in strategic initiatives, with the maturity date extended to December 10, 2024, and improved pricing. Interest rates will range from LIBOR plus 375 to 450 basis points, contingent on secured leverage ratios. Key covenants have been modified to facilitate debt incurrence and investment. The transaction was facilitated by Bank of America.
Uniti Group announced that Mark Wallace, Executive Vice President and CFO, along with Bill DiTullio, VP of Finance and Investor Relations, will represent the company at the Wells Fargo 2020 TMT Summit. The presentation is scheduled for 10:40 AM ET on December 2, 2020. A live webcast can be accessed on Uniti's website, and a replay will be available for a limited time afterward. Uniti, a real estate investment trust, focuses on acquiring and constructing vital communications infrastructure, owning 6.7 million fiber strand miles as of September 30, 2020.
Uniti Group (Nasdaq: UNIT) announced key participation in the Bank of America Securities 2020 Leveraged Finance Conference. Scheduled for 9:00 AM ET on November 30, 2020, the event will feature Chief Revenue Officer Ron Mudry and VP of Finance and Investor Relations Bill DiTullio. A live webcast will be available on Uniti’s website under the Investors tab, with a replay accessible for a limited time post-event. As of September 30, 2020, Uniti owns 6.7 million fiber strand miles of communications infrastructure across the U.S.
Uniti Group, a leading real estate investment trust focused on communications infrastructure, announced that CEO Kenny Gunderman and CFO Mark Wallace will participate in Nareit’s REITworld 2020 Annual Conference on November 19, 2020, at 12:00 PM ET. Investors can access a live webcast of the event on Uniti’s website, with a replay available later. As of September 30, 2020, Uniti owns 6.7 million fiber strand miles across the United States, emphasizing its role in providing critical wireless infrastructure solutions.
Uniti Group Inc. (Nasdaq: UNIT) reported third-quarter 2020 revenues of $258.8 million and a net income of $7.5 million. The Company’s Adjusted Funds From Operations (AFFO) were $92.5 million, or $0.42 per diluted share. The quarter marked a robust performance by Uniti Fiber, contributing $76.4 million in revenue. Uniti announced a strategic OpCo-PropCo transaction with Everstream, providing approximately $135 million in cash and ongoing revenues. The company maintains a strong liquidity position with $484 million in cash, and declared a $0.15 cash dividend for the upcoming quarter.
Uniti Group announced the dismissal of all claims in a securities lawsuit filed by SLF Holdings against it and its officers. The U.S. District Court for Delaware ruled on November 4, 2020, that amending the complaint would be futile and dismissed SLF’s claims with prejudice. The lawsuit alleged failure to disclose risks related to Windstream’s bankruptcy, but the court found Uniti's disclosures were adequate, rejecting claims of conspiracy to mislead investors.
Uniti Group Inc. (Nasdaq: UNIT) announced a quarterly cash dividend of $0.15 per share payable on January 4, 2021 to stockholders of record on December 15, 2020. This dividend reflects Uniti's commitment to delivering value to its shareholders as an internally managed real estate investment trust specializing in acquiring and constructing vital communications infrastructure. By June 30, 2020, Uniti owned 6.5 million fiber strand miles across the U.S., establishing itself as a key provider in the wireless infrastructure sector.
Uniti Group Inc. (Nasdaq: UNIT) will release its Q3 2020 financial results after the market closes on November 9, 2020. A conference call to discuss these results is scheduled for the same day at 4:15 PM Eastern Time. Investors can join the call by dialing (844) 513-7153 or (508) 637-5603 for international attendees, using conference ID 3536128. Uniti, a real estate investment trust, specializes in mission-critical communications infrastructure and owns 6.5 million fiber strand miles across the U.S. More details can be found on their website.
Uniti Group announced the filing of a prospectus supplement with the U.S. SEC to register the resale of approximately 18.2 million shares of its common stock, previously issued to certain creditors of Windstream as part of a settlement. This filing fulfills Uniti's obligations under disclosed stock purchase agreements. Importantly, Uniti will not issue or sell any shares through this prospectus supplement. As of June 30, 2020, Uniti owns 6.5 million fiber strand miles and operates in the communications infrastructure sector.
Uniti Group Inc. (Nasdaq: UNIT) announced the launch of nationwide dark fiber services across 31,000 fiber route miles in 35 states, enhancing its existing fiber network to over 3 million strand miles. This expansion, rooted in a settlement with Windstream, aims to meet increasing demands for connectivity from various sectors including content providers and telecom operators. The network addresses challenges such as bandwidth needs driven by remote work and 5G solutions. Uniti's infrastructure supports critical communications, positioning it as a leader in fiber solutions.
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