Bank of New York Mellon Corp reduced its position in Communications Sales & Leasing Inc. (NASDAQ:CSAL) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,381,294 shares of the company’s stock after selling 100,448 shares during the period. Bank of New York Mellon Corp owned about 4.80% of Communications Sales & Leasing worth $231,846,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Communications Sales & Leasing by 240.0% in the first quarter. JPMorgan Chase & Co. now owns 57,805 shares of the company’s stock worth $1,286,000 after buying an additional 40,803 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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. Squarepoint Ops LLC increased its stake in shares of Communications Sales & Leasing by 340.8% in the first quarter. Squarepoint Ops LLC now owns 53,053 shares of the company’s stock valued at $1,181,000 after buying an additional 41,018 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Communications Sales & Leasing by 80.2% in the second quarter. BNP Paribas Arbitrage SA now owns 67,134 shares of the company’s stock valued at $1,940,000 after buying an additional 29,887 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in shares of Communications Sales & Leasing by 10.1% in the second quarter. Raymond James Trust N.A. now owns 17,449 shares of the company’s stock valued at $504,000 after buying an additional 1,597 shares during the last quarter. Institutional investors own 62.12% of the company’s stock.

Institutional Ownership by Quarter for Communications Sales & Leasing (NASDAQ:CSAL)

Communications Sales & Leasing Inc. (NASDAQ:CSAL) opened at 24.93 on Thursday. The stock’s 50 day moving average price is $0.00 and its 200 day moving average price is $0.00. Communications Sales & Leasing Inc. has a 1-year low of $15.13 and a 1-year high of $32.73.

Communications Sales & Leasing (NASDAQ:CSAL) last released its earnings results on Monday, November 14th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.01. Communications Sales & Leasing had a negative return on equity of 0.88% and a net margin of 1.54%. The business had revenue of $200.20 million for the quarter, compared to analysts’ expectations of $198.62 million. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts anticipate that Communications Sales & Leasing Inc. will post $2.33 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Bank of New York Mellon Corp Sells 100,448 Shares of Communications Sales & Leasing Inc. (CSAL)” was first reported by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2016/12/01/bank-of-new-york-mellon-corp-sells-100448-shares-of-communications-sales-leasing-inc-csal.html.

Several analysts have weighed in on CSAL shares. Zacks Investment Research upgraded Communications Sales & Leasing from a “strong sell” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, October 11th. Cowen and Company started coverage on Communications Sales & Leasing in a research report on Thursday, October 13th. They issued an “outperform” rating and a $34.00 price objective for the company. JPMorgan Chase & Co. started coverage on Communications Sales & Leasing in a research report on Monday, September 26th. They issued an “overweight” rating for the company. Finally, Raymond James Financial Inc. upgraded Communications Sales & Leasing from an “outperform” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $32.80.

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

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.