Communications Sales & Leasing,Inc. (NASDAQ:UNIT) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.06, Bloomberg Earnings reports. The business had revenue of $213.01 million during the quarter, compared to analysts’ expectations of $214.09 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Communications Sales & Leasing,Inc. updated its FY17 guidance to $1.99-2.02 EPS.

Shares of Communications Sales & Leasing,Inc. (NASDAQ UNIT) traded down 1.82% during trading on Friday, hitting $22.16. The company had a trading volume of 4,930,538 shares. Communications Sales & Leasing,Inc. has a 52 week low of $21.54 and a 52 week high of $32.73. The stock’s market capitalization is $3.89 billion. The firm’s 50 day moving average is $25.79 and its 200-day moving average is $26.14.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 10.63%. Communications Sales & Leasing,Inc.’s dividend payout ratio is -1,043.43%.

In other news, insider Kenny Gunderman purchased 14,500 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was bought at an average cost of $24.15 per share, with a total value of $350,175.00. Following the completion of the purchase, the insider now owns 262,053 shares in the company, valued at $6,328,579.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in UNIT. IFP Advisors Inc raised its position in shares of Communications Sales & Leasing,Inc. by 12.6% in the second quarter. IFP Advisors Inc now owns 14,132 shares of the real estate investment trust’s stock worth $355,000 after buying an additional 1,585 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of Communications Sales & Leasing,Inc. by 8.7% in the second quarter. Capstone Asset Management Co. now owns 19,890 shares of the real estate investment trust’s stock worth $500,000 after buying an additional 1,590 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $107,000. Delta Asset Management LLC TN purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $127,000. Finally, Glen Harbor Capital Management LLC purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter worth approximately $134,000. 56.78% of the stock is owned by institutional investors.

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Several research firms have weighed in on UNIT. Cowen and Company reaffirmed a “buy” rating and issued a $33.00 price target on shares of Communications Sales & Leasing,Inc. in a report on Friday, July 28th. Zacks Investment Research raised Communications Sales & Leasing,Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, July 6th. 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 began coverage on Communications Sales & Leasing,Inc. in a report on Monday, June 19th. They set an “outperform” rating and a $32.00 price objective on the stock. Finally, Deutsche Bank AG raised their price objective on Communications Sales & Leasing,Inc. from $28.00 to $30.00 and gave the company 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. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.17.

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.

Earnings History for Communications Sales & Leasing,Inc. (NASDAQ:UNIT)

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