First Trust Advisors LP lowered its position in Communications Sales & Leasing Inc. (NASDAQ:CSAL) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,466 shares of the company’s stock after selling 1,228 shares during the period. First Trust Advisors LP owned 0.05% of Communications Sales & Leasing worth $2,297,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CSAL. Huntington National Bank acquired a new stake in shares of Communications Sales & Leasing during the second quarter worth about $124,000. Creative Planning increased its stake in shares of Communications Sales & Leasing by 11.4% in the second quarter. Creative Planning now owns 7,221 shares of the company’s stock worth $209,000 after buying an additional 737 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of Communications Sales & Leasing by 79.8% in the second quarter. LS Investment Advisors LLC now owns 7,853 shares of the company’s stock worth $227,000 after buying an additional 3,485 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Communications Sales & Leasing during the second quarter worth approximately $229,000. Finally, Advisory Services Network LLC boosted its position in shares of Communications Sales & Leasing by 743.6% in the second quarter. Advisory Services Network LLC now owns 8,436 shares of the company’s stock worth $244,000 after buying an additional 7,436 shares during the period. 57.75% of the stock is owned by hedge funds and other institutional investors.

Shares of Communications Sales & Leasing Inc. (NASDAQ:CSAL) traded up 1.74% during trading on Friday, hitting $32.17. The stock had a trading volume of 3,695,677 shares. Communications Sales & Leasing Inc. has a 12-month low of $15.13 and a 12-month high of $32.66. The stock has a 50-day moving average of $30.64 and a 200 day moving average of $26.80. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 164.97 and a beta of 1.28.

Communications Sales & Leasing (NASDAQ:CSAL) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.09. Communications Sales & Leasing had a net margin of 3.25% and a negative return on equity of 1.89%. The company earned $188.60 million during the quarter, compared to analysts’ expectations of $189.04 million. The business’s quarterly revenue was up 46.5% compared to the same quarter last year. On average, analysts predict that Communications Sales & Leasing Inc. will post $2.43 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 7.59%. Communications Sales & Leasing’s dividend payout ratio is currently 1,714.29%.

A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Communications Sales & Leasing from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Tuesday, July 12th. Citigroup Inc. restated a “buy” rating and set a $32.00 target price on shares of Communications Sales & Leasing in a report on Tuesday, July 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of Communications Sales & Leasing in a report on Sunday, July 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $27.90.

Communications Sales & Leasing Company Profile

Communications Sales & Leasing, Inc (CS&L) is an internally managed real estate investment trust (REIT) engaged in the acquisition and construction of a range of infrastructure in the communications industry. The Company is focused on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.

5 Day Chart for NASDAQ:CSAL

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