An issue of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) debt fell 1.8% against its face value during trading on Friday. The high-yield issue of debt has a 8.25% coupon and will mature on October 15, 2023. The debt is now trading at $96.25 and was trading at $103.25 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price.

Several brokerages have recently commented on UNIT. Zacks Investment Research lowered Communications Sales & Leasing,Inc. from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Citigroup Inc. decreased their target price on Communications Sales & Leasing,Inc. from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Monday. Cowen and Company reiterated a “buy” rating and issued a $33.00 target price on shares of Communications Sales & Leasing,Inc. in a research report on Friday, July 28th. Deutsche Bank AG lifted their target price on Communications Sales & Leasing,Inc. from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, June 7th. Finally, Royal Bank Of Canada began coverage on Communications Sales & Leasing,Inc. in a research report on Monday, June 19th. They issued an “outperform” rating and a $32.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Communications Sales & Leasing,Inc. has a consensus rating of “Buy” and a consensus target price of $30.43.

Shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) traded down 4.06% during mid-day trading on Friday, hitting $19.37. The company had a trading volume of 5,941,963 shares. Communications Sales & Leasing,Inc. has a 12-month low of $18.93 and a 12-month high of $32.73. The firm’s 50 day moving average is $24.89 and its 200-day moving average is $25.94. The firm’s market cap is $3.40 billion.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.06. The firm had revenue of $213.01 million during the quarter, compared to the consensus estimate of $214.09 million. During the same quarter in the prior year, the company posted $0.56 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts expect that Communications Sales & Leasing,Inc. will post ($0.13) EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.60 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 12.39%. Communications Sales & Leasing,Inc.’s dividend payout ratio is currently -750.00%.

Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. bought a new stake in Communications Sales & Leasing,Inc. during the first quarter valued at $107,000. Delta Asset Management LLC TN bought a new stake in Communications Sales & Leasing,Inc. during the first quarter valued at $127,000. Glen Harbor Capital Management LLC bought a new stake in Communications Sales & Leasing,Inc. during the first quarter valued at $134,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Communications Sales & Leasing,Inc. during the first quarter valued at $136,000. Finally, Tyers Asset Management LLC bought a new stake in Communications Sales & Leasing,Inc. during the first quarter valued at $184,000. Institutional investors own 56.96% of the company’s stock.

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About Communications Sales & Leasing,Inc.

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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