Uniti Sells Latin American Tower Portfolio for $100 million; Maintaining $21 FVE
On Feb. 19, 2019, no-moat Uniti announced it is selling its Latin American tower portfolio, consisting of about 500 towers, to Phoenix Tower International for approximately $100 million in cash. The deal is expected to close by the end of the quarter. We think selling the portfolio was a smart move, and we believe Uniti received a fair price--it bought the bulk of the portfolio for $63 million two years ago. After modeling in the transaction, we have no change to our $21 fair value estimate.The...
Uniti Group is a real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The company's four lines of business are: Uniti Fiber, which is a provider of infrastructure solutions, including cell site backhaul and small cell for wireless operators and ethernet; Uniti Towers, which constructs and leases space on communications towers to wireless service providers and other tenants; Uniti Leasing, which is engaged in acquiring communications assets, such as fiber, data centers, consumer broadband, coaxial and upgradeable copper; and Talk America Services, LLC, which provides local telephone, high-speed internet and long distance service.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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