Equities research analysts predict that Communications Sales & Leasing,Inc. (NASDAQ:UNIT) will post $0.50 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Communications Sales & Leasing,Inc.’s earnings. Communications Sales & Leasing,Inc. reported earnings of $0.56 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.7%. The business is scheduled to announce its next quarterly earnings report after the market closes on Thursday, August 10th.

According to Zacks, analysts expect that Communications Sales & Leasing,Inc. will report full-year earnings of $2.08 per share for the current fiscal year, with EPS estimates ranging from $2.07 to $2.09. For the next financial year, analysts anticipate that the business will post earnings of $2.36 per share, with EPS estimates ranging from $2.31 to $2.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Communications Sales & Leasing,Inc..

Several brokerages have recently commented on UNIT. Deutsche Bank AG upped their price target on Communications Sales & Leasing,Inc. from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, June 7th. Zacks Investment Research lowered Communications Sales & Leasing,Inc. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Finally, Morgan Stanley initiated coverage on Communications Sales & Leasing,Inc. in a research note on Tuesday, February 28th. They set an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Communications Sales & Leasing,Inc. has a consensus rating of “Buy” and an average price target of $32.33.

In other news, insider Kenny Gunderman bought 14,500 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were purchased at an average price of $24.15 per share, with a total value of $350,175.00. Following the purchase, the insider now owns 262,053 shares in the company, valued at $6,328,579.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. Moody National Bank Trust Division bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at $236,000. Bollard Group LLC bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at $259,000. Nisa Investment Advisors LLC bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at $230,000. Orinda Asset Management LLC bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at $3,415,000. Finally, Duff & Phelps Investment Management Co. bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at $49,618,000. Institutional investors own 56.92% of the company’s stock.

Shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) traded down 0.56% during trading on Thursday, hitting $26.73. The stock had a trading volume of 2,171,249 shares. The company’s 50 day moving average price is $25.56 and its 200 day moving average price is $26.18. The stock’s market cap is $4.69 billion. Communications Sales & Leasing,Inc. has a 12 month low of $22.50 and a 12 month high of $32.73.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 8.98%. The ex-dividend date is Wednesday, June 28th. Communications Sales & Leasing,Inc.’s payout ratio is -1,043.43%.

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Communications Sales & Leasing,Inc. Company Profile

Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.

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