UNIT Stock Summary and Trading Ideas (Uniti Group | NASDAQ:UNIT)

Uniti is a REIT with about 140,000 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 75% of total revenue and consists mostly of Uniti's master lease agreement with Windstream. Windstream spun off a substantial portion of its network assets to form Uniti in 2015, and Uniti 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.

Uniti Group trades on the NASDAQ stock market under the symbol UNIT.

As of April 19, 2024, UNIT stock price was flat at $5.31 with 1,101,237 million shares trading.

UNIT has a beta of 2.40, meaning it tends to be more sensitive to market movements. UNIT has a correlation of 0.27 to the broad based SPY ETF.

UNIT has a market cap of $1.27 billion. This is considered a Small Cap stock.

In the last 3 years, UNIT stock traded as high as $14.60 and as low as $2.94.

The top ETF exchange traded funds that UNIT belongs to (by Net Assets): IJR, VNQ, VTI, VB, IWM.

UNIT has outperformed the market in the last year with a return of +72.3%, while the SPY ETF gained +21.2%. However, in the most recent history, UNIT shares have underperformed the stock market with its stock returning +1.7% in the last 3 month period and -6.8% for the last 2 week period, while SPY has returned +4.3% and -3.5%, respectively.

UNIT support price is $5.17 and resistance is $5.45 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that UNIT stock will trade within this expected range on the day.