Communications Sales & Leasing Inc. (NASDAQ:csal) announced a quarterly dividend on Thursday, September 1st. Stockholders of record on Friday, September 30th will be paid a dividend of 0.60 per share on Friday, October 14th. This represents a $2.40 annualized dividend and a dividend yield of 7.59%. The ex-dividend date is Wednesday, September 28th.

Shares of Communications Sales & Leasing (NASDAQ:CSAL) opened at 31.62 on Friday. Communications Sales & Leasing has a 12 month low of $15.13 and a 12 month high of $32.47. The company 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 $4.87 billion, a P/E ratio of 162.15 and a beta of 1.28.

Communications Sales & Leasing (NASDAQ:CSAL) last released its quarterly earnings results 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 negative return on equity of 1.89% and a net margin of 3.25%. The firm had revenue of $188.60 million for the quarter, compared to analysts’ expectations of $189.04 million. The firm’s revenue for the quarter was up 46.5% on a year-over-year basis. Equities analysts forecast that Communications Sales & Leasing will post $2.43 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on CSAL shares. Zacks Investment Research downgraded shares of Communications Sales & Leasing from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Morgan Stanley reiterated an “overweight” rating on shares of Communications Sales & Leasing in a research note on Sunday, July 24th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $32.00 target price on shares of Communications Sales & Leasing in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Communications Sales & Leasing presently has an average rating of “Buy” and an average target price of $27.90.

Large investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its stake in Communications Sales & Leasing by 13.5% in the second quarter. BlackRock Fund Advisors now owns 5,424,600 shares of the company’s stock valued at $156,771,000 after buying an additional 644,291 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Communications Sales & Leasing by 3.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,778,381 shares of the company’s stock valued at $109,195,000 after buying an additional 118,419 shares during the period. State Street Corp increased its stake in Communications Sales & Leasing by 6.9% in the second quarter. State Street Corp now owns 3,496,973 shares of the company’s stock valued at $101,062,000 after buying an additional 225,199 shares during the period. Waddell & Reed Financial Inc. purchased a new stake in Communications Sales & Leasing during the second quarter valued at about $75,300,000. Finally, Credit Suisse AG increased its stake in Communications Sales & Leasing by 54.7% in the second quarter. Credit Suisse AG now owns 1,039,105 shares of the company’s stock valued at $30,031,000 after buying an additional 367,466 shares during the period. 57.75% of the stock is currently owned by hedge funds and other institutional investors.

About Communications Sales & Leasing

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.

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