Zacks Investment Research upgraded shares of Communications Sales & Leasing Inc. (NASDAQ:CSAL) from a strong sell rating to a buy rating in a research note released on Tuesday. They currently have $33.00 target price on the stock.

According to Zacks, “Communications Sales & Leasing, Inc. is a real estate investment trust primarily engaged in the acquisition and leasing of communication distribution systems. Communications Sales & Leasing, Inc. is headquartered in Little Rock, Ark. “

A number of other research analysts also recently issued reports on CSAL. Citigroup Inc. reiterated a buy rating and set a $32.00 price objective on shares of Communications Sales & Leasing in a report on Tuesday, July 5th. JPMorgan Chase & Co. began coverage on Communications Sales & Leasing in a report on Monday, September 26th. They set an overweight rating for the company. Finally, Morgan Stanley reiterated an overweight rating on shares of Communications Sales & Leasing in a report on Sunday, July 24th. Seven analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and an average price target of $29.13.

Analyst Recommendations for Communications Sales & Leasing (NASDAQ:CSAL)

Shares of Communications Sales & Leasing (NASDAQ:CSAL) opened at 29.04 on Tuesday. The company has a market capitalization of $4.47 billion, a PE ratio of 148.92 and a beta of 1.27. Communications Sales & Leasing has a 12 month low of $15.13 and a 12 month high of $32.73. The firm has a 50-day moving average of $30.85 and a 200 day moving average of $27.68.

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

The firm 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 dividend on an annualized basis and a dividend yield of 8.26%. Communications Sales & Leasing’s payout ratio is 1,714.29%.

Hedge funds have recently added to or reduced their stakes in the company. American National Registered Investment Advisor Inc. purchased a new stake in Communications Sales & Leasing during the first quarter valued at $221,000. Geode Capital Management LLC boosted its stake in Communications Sales & Leasing by 4.8% in the first quarter. Geode Capital Management LLC now owns 814,258 shares of the company’s stock valued at $18,117,000 after buying an additional 37,447 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Communications Sales & Leasing during the first quarter valued at $933,000. OMERS ADMINISTRATION Corp boosted its stake in Communications Sales & Leasing by 152.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 103,300 shares of the company’s stock valued at $2,298,000 after buying an additional 62,400 shares during the last quarter. Finally, Credit Agricole S A purchased a new stake in Communications Sales & Leasing during the first quarter valued at $257,000. 57.75% of the stock is owned by institutional investors and hedge funds.

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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