J P Morgan Chase & Co lowered shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) from an overweight rating to a neutral rating in a research note issued to investors on Monday, Marketbeat reports.

A number of other equities research analysts have also recently issued reports on UNIT. Deutsche Bank AG upped their price objective on shares of Communications Sales & Leasing,Inc. from $28.00 to $30.00 and gave the stock a buy rating in a report on Wednesday, June 7th. Royal Bank Of Canada initiated coverage on shares of Communications Sales & Leasing,Inc. in a report on Monday, June 19th. They issued an outperform rating and a $32.00 price objective for the company. ValuEngine cut shares of Communications Sales & Leasing,Inc. from a buy rating to a hold rating in a report on Friday, June 23rd. Zacks Investment Research upgraded shares of Communications Sales & Leasing,Inc. from a strong sell rating to a hold rating in a report on Thursday, July 6th. Finally, Cowen and Company reiterated a buy rating and issued a $33.00 price objective on shares of Communications Sales & Leasing,Inc. in a report on Friday, July 28th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $29.44.

Communications Sales & Leasing,Inc. (UNIT) opened at 15.56 on Monday. The firm’s 50 day moving average price is $16.67 and its 200-day moving average price is $16.67. Communications Sales & Leasing,Inc. has a 52 week low of $13.81 and a 52 week high of $30.95. The firm’s market cap is $2.73 billion.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.06). The company had revenue of $213.01 million for the quarter, compared to analysts’ expectations of $214.09 million. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 EPS. On average, analysts forecast that Communications Sales & Leasing,Inc. will post ($0.20) EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 15.42%. The ex-dividend date of this dividend is Thursday, September 28th. Communications Sales & Leasing,Inc.’s dividend payout ratio (DPR) is -750.00%.

In other news, EVP Daniel L. Heard purchased 5,400 shares of the firm’s stock in a transaction 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 completion of the acquisition, the executive vice president now directly owns 40,793 shares of the company’s stock, valued at $756,302.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kenny Gunderman purchased 2,500 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were purchased at an average price of $19.48 per share, with a total value of $48,700.00. Following the completion of the acquisition, the insider now directly owns 266,553 shares of the company’s stock, valued at $5,192,452.44. The disclosure for this purchase can be found here. Insiders have acquired 15,700 shares of company stock valued at $297,116 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in UNIT. Russell Investments Group Ltd. bought a new stake in Communications Sales & Leasing,Inc. during the first quarter valued at about $242,000. First Trust Advisors LP bought a new stake in Communications Sales & Leasing,Inc. during the first quarter valued at about $2,736,000. US Bancorp DE bought a new stake in Communications Sales & Leasing,Inc. during the first quarter valued at about $287,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Communications Sales & Leasing,Inc. during the first quarter valued at about $136,000. Finally, World Asset Management Inc bought a new stake in Communications Sales & Leasing,Inc. during the first quarter valued at about $219,000. Institutional investors own 68.19% of the company’s stock.

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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