Communications Sales & Leasing,Inc. (UNIT) Receives $29.44 Consensus Target Price from Brokerages

Shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) have been assigned a consensus recommendation of “Buy” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $29.44.

UNIT has been the subject of several research reports. 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. Deutsche Bank AG started coverage on shares of Communications Sales & Leasing,Inc. in a research note on Monday, May 22nd. They issued a “buy” rating and a $28.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and issued a $24.00 target price (down from $34.00) on shares of Communications Sales & Leasing,Inc. in a research note on Wednesday, August 23rd. ValuEngine cut shares of Communications Sales & Leasing,Inc. from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Finally, Cowen and Company reiterated 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.

In other Communications Sales & Leasing,Inc. news, insider Kenny Gunderman bought 4,000 shares of Communications Sales & Leasing,Inc. stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $18.88 per share, for a total transaction of $75,520.00. Following the completion of the purchase, the insider now directly owns 271,553 shares of the company’s stock, valued at $5,126,920.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Daniel L. Heard bought 5,400 shares of Communications Sales & Leasing,Inc. stock in a transaction 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 purchase, the executive vice president now directly owns 40,793 shares of the company’s stock, valued at $756,302.22. The disclosure for this purchase can be found here. Insiders acquired 15,700 shares of company stock valued at $297,116 over the last quarter. Corporate insiders own 0.39% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. acquired a new stake in Communications Sales & Leasing,Inc. in the first quarter valued at approximately $107,000. Glen Harbor Capital Management LLC acquired a new stake in shares of Communications Sales & Leasing,Inc. in the first quarter worth $134,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Communications Sales & Leasing,Inc. in the first quarter worth $136,000. Tyers Asset Management LLC acquired a new stake in shares of Communications Sales & Leasing,Inc. in the first quarter worth $184,000. Finally, QCI Asset Management Inc. NY acquired a new stake in shares of Communications Sales & Leasing,Inc. in the first quarter worth $196,000. Hedge funds and other institutional investors own 68.20% of the company’s stock.

Communications Sales & Leasing,Inc. (UNIT) traded down 0.80% during trading on Tuesday, reaching $18.66. 2,604,854 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $21.43 and its 200-day moving average price is $24.93. Communications Sales & Leasing,Inc. has a 52 week low of $18.14 and a 52 week high of $32.73. The stock’s market capitalization is $3.27 billion.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last posted its quarterly earnings results 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 company had revenue of $213.01 million for the quarter, compared to analyst estimates of $214.09 million. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 EPS. On average, equities analysts expect that Communications Sales & Leasing,Inc. will post ($0.20) EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 12.86%. The ex-dividend date is Thursday, September 28th. Communications Sales & Leasing,Inc.’s dividend payout ratio (DPR) is presently -750.00%.

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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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