Cowen and Company assumed coverage on shares of Communications Sales & Leasing Inc. (NASDAQ:CSAL) in a research note published on Thursday morning. The firm issued an outperform rating and a $34.00 target price on the stock.

A number of other research firms also recently commented on CSAL. JPMorgan Chase & Co. assumed coverage on Communications Sales & Leasing in a research report on Monday, September 26th. They issued an overweight rating on the stock. Morgan Stanley reiterated an overweight rating on shares of Communications Sales & Leasing in a report on Sunday, July 24th. Zacks Investment Research downgraded Communications Sales & Leasing from a buy rating to a hold rating in a report on Monday, August 15th. Finally, Citigroup Inc. reiterated a buy rating and issued a $32.00 price objective on shares of Communications Sales & Leasing in a report on Tuesday, July 5th. Eight analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and an average target price of $30.10.

Shares of Communications Sales & Leasing (NASDAQ:CSAL) traded up 0.0340% during mid-day trading on Thursday, hitting $30.0502. The stock had a trading volume of 337,245 shares. Communications Sales & Leasing has a 12 month low of $15.13 and a 12 month high of $32.73. The firm has a market cap of $4.63 billion, a PE ratio of 154.1036 and a beta of 1.27. The stock’s 50-day moving average is $30.87 and its 200 day moving average is $27.70.

Communications Sales & Leasing (NASDAQ:CSAL) last posted its 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. Communications Sales & Leasing had a net margin of 3.25% and a negative return on equity of 1.89%. The business 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. Equities research analysts predict 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 dividend of $0.60 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 7.99%. Communications Sales & Leasing’s dividend payout ratio is currently 1,714.29%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northpointe Capital LLC boosted its position in Communications Sales & Leasing by 1.4% in the second quarter. Northpointe Capital LLC now owns 414,504 shares of the company’s stock valued at $11,979,000 after buying an additional 5,743 shares in the last quarter. Renaissance Technologies LLC increased its stake in Communications Sales & Leasing by 148.3% in the first quarter. Renaissance Technologies LLC now owns 1,537,686 shares of the company’s stock valued at $34,214,000 after buying an additional 918,500 shares during the last quarter. Teachers Advisors Inc. increased its stake in Communications Sales & Leasing by 3.8% in the first quarter. Teachers Advisors Inc. now owns 104,173 shares of the company’s stock valued at $2,318,000 after buying an additional 3,774 shares during the last quarter. Advisory Services Network LLC increased its stake in Communications Sales & Leasing by 743.6% in the second quarter. Advisory Services Network LLC now owns 8,436 shares of the company’s stock valued at $244,000 after buying an additional 7,436 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in Communications Sales & Leasing by 3.8% in the first quarter. BlackRock Group LTD now owns 93,874 shares of the company’s stock valued at $2,088,000 after buying an additional 3,419 shares during the last quarter. 57.75% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:CSAL

Receive News & Stock Ratings for Communications Sales & Leasing Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Communications Sales & Leasing Inc. and related stocks with our FREE daily email newsletter.