Communications Sales & Leasing,Inc. (UNIT) Given Consensus Rating of “Buy” by Brokerages

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) has received an average recommendation of “Buy” from the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $30.17.

UNIT has been the topic of a number of recent research reports. Royal Bank Of Canada restated a “buy” rating and issued a $32.00 target price on shares of Communications Sales & Leasing,Inc. in a research note on Monday, September 18th. Morgan Stanley restated an “overweight” rating and issued a $24.00 target price (down previously from $34.00) on shares of Communications Sales & Leasing,Inc. in a research note on Wednesday, August 23rd. 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. Cowen and Company restated a “buy” rating and issued a $33.00 target price on shares of Communications Sales & Leasing,Inc. in a research note on Friday, August 25th. Finally, Citigroup Inc. downgraded Communications Sales & Leasing,Inc. from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 26th.

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In other Communications Sales & Leasing,Inc. news, insider Kenny Gunderman purchased 2,500 shares of the stock in a transaction on Monday, August 14th. The shares were bought at an average price of $19.48 per share, for a total transaction of $48,700.00. Following the completion of the transaction, the insider now owns 266,553 shares of the company’s stock, valued at approximately $5,192,452.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel L. Heard purchased 5,400 shares of the stock in a transaction on Tuesday, August 15th. The shares were acquired at an average price of $18.54 per share, for a total transaction of $100,116.00. Following the transaction, the executive vice president now directly owns 40,793 shares of the company’s stock, valued at approximately $756,302.22. The disclosure for this purchase can be found here. Insiders have acquired 15,700 shares of company stock worth $297,116 in the last quarter. 0.39% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of UNIT. Vanguard Group Inc. purchased a new position in Communications Sales & Leasing,Inc. during the first quarter worth approximately $339,519,000. BlackRock Inc. purchased a new position in Communications Sales & Leasing,Inc. during the first quarter worth approximately $298,032,000. State Street Corp purchased a new position in Communications Sales & Leasing,Inc. during the first quarter worth approximately $91,615,000. FMR LLC purchased a new position in Communications Sales & Leasing,Inc. during the first quarter worth approximately $32,036,000. Finally, Renaissance Technologies LLC purchased a new position in Communications Sales & Leasing,Inc. during the first quarter worth approximately $31,126,000. Institutional investors own 68.35% of the company’s stock.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) traded down 1.21% on Wednesday, hitting $17.16. The stock had a trading volume of 2,587,238 shares. The company’s 50 day moving average is $16.35 and its 200-day moving average is $22.28. The stock’s market cap is $3.01 billion. Communications Sales & Leasing,Inc. has a 12 month low of $13.81 and a 12 month high of $29.65.

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 analysts’ consensus estimates of $0.50 by ($0.06). The firm had revenue of $213.01 million during the quarter, compared to analyst estimates of $214.09 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts forecast that Communications Sales & Leasing,Inc. will post ($0.20) EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a $0.60 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 13.99%. Communications Sales & Leasing,Inc.’s payout ratio is -750.00%.

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.

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