ValuEngine upgraded shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) from a hold rating to a buy rating in a research note published on Monday morning.

A number of other research firms also recently commented on UNIT. Royal Bank Of Canada assumed 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 on the stock. Cowen and Company restated a buy rating and set a $33.00 price target on shares of Communications Sales & Leasing,Inc. in a report on Friday, July 28th. 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 research note on Wednesday, June 7th. Zacks Investment Research raised Communications Sales & Leasing,Inc. from a strong sell rating to a hold rating in a research note on Thursday, July 6th. Finally, Citigroup Inc. reduced their price objective on Communications Sales & Leasing,Inc. from $30.00 to $27.00 and set a buy rating on the stock in a research note on Monday, August 7th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $29.44.

Communications Sales & Leasing,Inc. (NASDAQ UNIT) opened at 14.60 on Monday. The stock’s 50 day moving average price is $16.85 and its 200 day moving average price is $16.85. The company’s market capitalization is $2.56 billion. Communications Sales & Leasing,Inc. has a 12 month low of $13.81 and a 12 month high of $30.95.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06). The business had revenue of $213.01 million for the quarter, compared to analyst estimates of $214.09 million. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 earnings per share. Equities research analysts anticipate that Communications Sales & Leasing,Inc. will post ($0.20) earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.40 annualized dividend and a yield of 16.44%. Communications Sales & Leasing,Inc.’s payout ratio is currently -750.00%.

In related news, insider Kenny Gunderman bought 2,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was purchased at an average price of $19.23 per share, for a total transaction of $38,460.00. Following the acquisition, the insider now owns 267,553 shares in the company, valued at $5,145,044.19. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Daniel L. Heard bought 5,400 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $18.54 per share, with a total value of $100,116.00. Following the acquisition, the executive vice president now owns 40,793 shares in the company, valued at approximately $756,302.22. The disclosure for this purchase can be found here. Insiders bought a total of 15,700 shares of company stock valued at $297,116 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in Communications Sales & Leasing,Inc. during the 1st quarter valued at $339,519,000. BlackRock Inc. purchased a new position in Communications Sales & Leasing,Inc. during the first quarter worth $298,032,000. State Street Corp purchased a new position in Communications Sales & Leasing,Inc. during the first quarter worth $91,615,000. OppenheimerFunds Inc. purchased a new position in Communications Sales & Leasing,Inc. during the first quarter worth $42,809,000. Finally, FMR LLC purchased a new position in Communications Sales & Leasing,Inc. during the first quarter worth $32,036,000. 68.19% of the stock is currently owned by hedge funds and other 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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