Communications Sales & Leasing,Inc. (NASDAQ:UNIT) had its price objective reduced by Royal Bank Of Canada from $32.00 to $18.00 in a report issued on Monday. They currently have an outperform rating on the real estate investment trust’s stock.

Several other analysts have also recently weighed in on the company. Morgan Stanley reissued an overweight rating and set a $24.00 price objective (down from $34.00) on shares of Communications Sales & Leasing,Inc. in a report on Wednesday, August 23rd. Cowen and Company reissued a buy rating and set a $33.00 price objective on shares of Communications Sales & Leasing,Inc. in a report on Friday, August 25th. Citigroup Inc. cut Communications Sales & Leasing,Inc. from a buy rating to a neutral rating in a report on Tuesday, September 26th. Zacks Investment Research cut Communications Sales & Leasing,Inc. from a buy rating to a hold rating in a report on Tuesday, October 10th. Finally, J P Morgan Chase & Co cut Communications Sales & Leasing,Inc. from an overweight rating to a neutral rating in a report on Monday, October 2nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $26.63.

Communications Sales & Leasing,Inc. (UNIT) traded down $0.27 during trading on Monday, hitting $16.53. The company had a trading volume of 3,888,833 shares, compared to its average volume of 4,920,000. The company has a debt-to-equity ratio of -0.05, a current ratio of 0.03 and a quick ratio of 0.03. Communications Sales & Leasing,Inc. has a fifty-two week low of $13.81 and a fifty-two week high of $29.65. The company has a market capitalization of $2,900.00 and a PE ratio of 6.81.

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The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, December 28th. This represents a $2.40 annualized dividend and a dividend yield of 14.52%. Communications Sales & Leasing,Inc.’s payout ratio is currently -888.89%.

In other Communications Sales & Leasing,Inc. news, insider Kenny Gunderman acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average cost of $19.48 per share, for a total transaction of $48,700.00. Following the transaction, the insider now owns 266,553 shares of the company’s stock, valued at $5,192,452.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel L. Heard acquired 5,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average price of $18.54 per share, with a total value of $100,116.00. Following the completion of the transaction, the executive vice president now directly owns 40,793 shares in the company, valued at approximately $756,302.22. The disclosure for this purchase can be found here. Insiders have bought a total of 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.

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp acquired a new position in shares of Communications Sales & Leasing,Inc. in the 1st quarter valued at approximately $91,615,000. FMR LLC acquired a new position in shares of Communications Sales & Leasing,Inc. in the 1st quarter valued at approximately $32,036,000. Goldman Sachs Group Inc. bought a new stake in Communications Sales & Leasing,Inc. in the 1st quarter valued at approximately $20,359,000. Morgan Stanley bought a new stake in Communications Sales & Leasing,Inc. in the 1st quarter valued at approximately $19,623,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in Communications Sales & Leasing,Inc. in the 1st quarter valued at approximately $15,251,000. Institutional investors and hedge funds own 67.46% 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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