Shares of Communications Sales & Leasing Inc. (NASDAQ:CSAL) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $29.82 and last traded at $29.14, with a volume of 1,139,109 shares traded. The stock had previously closed at $29.32.

CSAL has been the topic of several research analyst reports. Citigroup Inc. restated a “buy” rating and issued a $32.00 price target on shares of Communications Sales & Leasing in a research report on Tuesday. Zacks Investment Research upgraded shares of Communications Sales & Leasing from a “sell” rating to a “hold” rating in a research report on Monday, May 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.30.

The firm has a market cap of $4.44 billion and a price-to-earnings ratio of 107.65. The firm’s 50 day moving average is $26.61 and its 200 day moving average is $22.11.

Communications Sales & Leasing (NASDAQ:CSAL) last announced its quarterly earnings data on Thursday, May 12th. The company reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.02. The firm had revenue of $174.70 million for the quarter, compared to analyst estimates of $174.39 million. Equities research analysts anticipate that Communications Sales & Leasing Inc. will post $2.58 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.20%. The ex-dividend date of this dividend is Tuesday, June 28th.

Several hedge funds have made changes to their positions in CSAL. Rhumbline Advisers raised its stake in shares of Communications Sales & Leasing by 0.3% in the fourth quarter. Rhumbline Advisers now owns 182,703 shares of the company’s stock worth $3,415,000 after buying an additional 536 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in Communications Sales & Leasing by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 81,260 shares of the company’s stock valued at $1,519,000 after buying an additional 1,336 shares during the period. Retirement Systems of Alabama raised its stake in Communications Sales & Leasing by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 154,758 shares of the company’s stock valued at $2,892,000 after buying an additional 2,008 shares during the period. Gabelli Funds LLC raised its stake in Communications Sales & Leasing by 5.2% in the fourth quarter. Gabelli Funds LLC now owns 71,000 shares of the company’s stock valued at $1,327,000 after buying an additional 3,500 shares during the period. Finally, California State Teachers Retirement System raised its stake in Communications Sales & Leasing by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 230,635 shares of the company’s stock valued at $4,311,000 after buying an additional 3,574 shares during the period.

Communications Sales & Leasing, Inc (CS&L) is engaged in the ownership, acquisition and leasing of communication distribution systems. The Company holds the fiber and copper networks and other real estate (the Distribution Systems) and a small consumer competitive local exchange carrier (CLEC) business (the Consumer CLEC Business).

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