Communications Sales & Leasing,Inc. (UNIT) Upgraded at Zacks Investment Research

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Thursday, July 6th.

According to Zacks, “Uniti Group Inc. is a real estate investment trust company. It engaged in the acquisition and construction of mission critical 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. Uniti Group Inc. is headquartered in Little Rock, AR. “

UNIT has been the subject of several other reports. ValuEngine cut Communications Sales & Leasing,Inc. from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Royal Bank Of Canada started coverage on Communications Sales & Leasing,Inc. in a report on Monday, June 19th. They set an “outperform” rating and a $32.00 price objective for the company. Finally, Deutsche Bank AG boosted their price objective on Communications Sales & Leasing,Inc. from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, June 7th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $32.17.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) traded down 3.23% during midday trading on Thursday, hitting $21.84. 7,321,811 shares of the stock traded hands. Communications Sales & Leasing,Inc. has a one year low of $21.54 and a one year high of $32.73. The company’s 50-day moving average is $25.79 and its 200-day moving average is $26.14. The company’s market cap is $3.83 billion.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. Equities research analysts expect that Communications Sales & Leasing,Inc. will post ($0.09) EPS for the current fiscal year.

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In other Communications Sales & Leasing,Inc. news, insider Kenny Gunderman acquired 14,500 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was acquired at an average cost of $24.15 per share, for a total transaction of $350,175.00. Following the transaction, the insider now owns 262,053 shares of the company’s stock, valued at $6,328,579.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Several institutional investors have recently modified their holdings of UNIT. Sei Investments Co. acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $107,000. Delta Asset Management LLC TN acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $127,000. Glen Harbor Capital Management LLC acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $134,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $136,000. Finally, Tyers Asset Management LLC acquired a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $184,000. Institutional investors and hedge funds own 56.78% 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.

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