Royal Bank Of Canada started coverage on shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) in a report published on Monday, Marketbeat.com reports. The firm issued an outperform rating and a $32.00 price target on the real estate investment trust’s stock.

Several other brokerages also recently issued reports on UNIT. 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 on the stock. Morgan Stanley started coverage on shares of Communications Sales & Leasing,Inc. in a research note on Tuesday, February 28th. They issued an overweight rating on the stock. Finally, Zacks Investment Research downgraded shares of Communications Sales & Leasing,Inc. from a hold rating to a sell rating in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Communications Sales & Leasing,Inc. has a consensus rating of Buy and an average target price of $32.29.

Analyst Recommendations for Communications Sales & Leasing,Inc. (NASDAQ:UNIT)

Shares of Communications Sales & Leasing,Inc. (NASDAQ UNIT) traded down 1.06% during midday trading on Monday, hitting $27.11. 162,561 shares of the stock traded hands. Communications Sales & Leasing,Inc. has a 52 week low of $22.50 and a 52 week high of $32.73. The company’s 50-day moving average is $25.55 and its 200 day moving average is $26.21. The firm’s market capitalization is $4.76 billion.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.40 annualized dividend and a dividend yield of 8.76%. Communications Sales & Leasing,Inc.’s payout ratio is -1,043.43%.

In related news, insider Kenny Gunderman acquired 14,500 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was purchased at an average cost of $24.15 per share, with a total value of $350,175.00. Following the completion of the acquisition, the insider now directly owns 262,053 shares of the company’s stock, valued at $6,328,579.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. bought a new position in Communications Sales & Leasing,Inc. during the first quarter valued at $107,000. Delta Asset Management LLC TN bought a new position in Communications Sales & Leasing,Inc. during the first quarter valued at $127,000. Glen Harbor Capital Management LLC bought a new position in Communications Sales & Leasing,Inc. during the first quarter valued at $134,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Communications Sales & Leasing,Inc. during the first quarter valued at $136,000. Finally, Tyers Asset Management LLC bought a new position in Communications Sales & Leasing,Inc. during the first quarter valued at $184,000. 51.16% of the stock is owned by hedge funds and other institutional investors.

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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