Cowen and Company reaffirmed their buy rating on shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) in a report published on Friday morning. The brokerage currently has a $33.00 price objective on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank AG raised their target price 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 upgraded Communications Sales & Leasing,Inc. from a strong sell rating to a hold rating in a research note on Thursday, July 6th. Royal Bank Of Canada assumed coverage on Communications Sales & Leasing,Inc. in a research note on Monday, June 19th. They issued an outperform rating and a $32.00 target price on the stock. Finally, ValuEngine cut Communications Sales & Leasing,Inc. from a buy rating to a hold rating in a research note on Friday, June 23rd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $32.17.

Communications Sales & Leasing,Inc. (UNIT) opened at 25.60 on Friday. The stock’s 50 day moving average is $25.83 and its 200-day moving average is $26.15. The firm’s market capitalization is $4.49 billion. Communications Sales & Leasing,Inc. has a 1-year low of $22.50 and a 1-year high of $32.73.

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The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.38%. The ex-dividend date was Wednesday, June 28th. Communications Sales & Leasing,Inc.’s dividend payout ratio (DPR) is -1,043.43%.

In other Communications Sales & Leasing,Inc. news, insider Kenny Gunderman purchased 14,500 shares of the stock in a transaction dated Friday, May 12th. The shares were bought at an average cost of $24.15 per share, with a total value of $350,175.00. Following the completion of the acquisition, the insider now owns 262,053 shares of the company’s stock, valued at $6,328,579.95. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of UNIT. Sei Investments Co. acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $107,000. Delta Asset Management LLC TN acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $127,000. Glen Harbor Capital Management LLC acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $134,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $136,000. Finally, Tyers Asset Management LLC acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $184,000. 56.78% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Communications Sales & Leasing,Inc. (NASDAQ:UNIT)

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