Communications Sales & Leasing,Inc. (NASDAQ:UNIT)‘s stock had its “buy” rating restated by equities researchers at Cowen and Company in a report released on Friday. They presently have a $33.00 price objective on the real estate investment trust’s stock. Cowen and Company’s target price would indicate a potential upside of 66.58% from the stock’s current price.

Several other brokerages have also weighed in on UNIT. Royal Bank Of Canada assumed coverage on Communications Sales & Leasing,Inc. in a report on Monday, June 19th. They set an “outperform” rating and a $32.00 price objective on the stock. Deutsche Bank AG lifted their price objective on Communications Sales & Leasing,Inc. from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, June 7th. ValuEngine lowered Communications Sales & Leasing,Inc. from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Zacks Investment Research lowered Communications Sales & Leasing,Inc. from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Finally, Citigroup Inc. decreased their price objective on Communications Sales & Leasing,Inc. from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, August 7th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $29.44.

Shares of Communications Sales & Leasing,Inc. (UNIT) traded up 0.25% on Friday, reaching $19.70. 691,009 shares of the company were exchanged. Communications Sales & Leasing,Inc. has a 1-year low of $18.14 and a 1-year high of $32.73. The stock’s market capitalization is $3.46 billion. The company has a 50-day moving average price of $23.05 and a 200 day moving average price of $25.39.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ 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 previous year, the firm earned $0.56 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, analysts forecast that Communications Sales & Leasing,Inc. will post ($0.19) EPS for the current fiscal year.

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In related news, insider Kenny Gunderman purchased 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average price of $18.88 per share, with a total value of $75,520.00. Following the purchase, the insider now directly owns 271,553 shares in the company, valued at $5,126,920.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel L. Heard purchased 5,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was bought at an average cost of $18.54 per share, for a total transaction of $100,116.00. Following the purchase, the executive vice president now owns 40,793 shares in the company, valued at $756,302.22. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 15,700 shares of company stock worth $297,116. 0.39% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in UNIT. NJ State Employees Deferred Compensation Plan bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $651,000. IFP Advisors Inc bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $324,000. Russell Investments Group Ltd. bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $242,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $13,726,000. Finally, Glen Harbor Capital Management LLC bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $134,000. 68.20% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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