Advisors Asset Management Inc. purchased a new position in shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,409 shares of the real estate investment trust’s stock, valued at approximately $683,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of UNIT. Duff & Phelps Investment Management Co. bought a new position in Communications Sales & Leasing,Inc. during the first quarter worth approximately $49,618,000. River Road Asset Management LLC bought a new position in Communications Sales & Leasing,Inc. during the first quarter worth approximately $42,514,000. Nationwide Fund Advisors bought a new position in Communications Sales & Leasing,Inc. during the first quarter worth approximately $19,038,000. State of New Jersey Common Pension Fund D bought a new position in Communications Sales & Leasing,Inc. during the first quarter worth approximately $13,726,000. Finally, Northpointe Capital LLC bought a new position in Communications Sales & Leasing,Inc. during the first quarter worth approximately $11,608,000. 56.92% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Communications Sales & Leasing,Inc. (NASDAQ:UNIT)

Shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) traded down 0.56% on Friday, reaching $26.73. The company’s stock had a trading volume of 2,171,249 shares. Communications Sales & Leasing,Inc. has a 12 month low of $22.50 and a 12 month high of $32.73. The firm’s 50-day moving average price is $25.56 and its 200-day moving average price is $26.18. The stock’s market cap is $4.69 billion.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a dividend of $0.60 per share. The ex-dividend date is Wednesday, June 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.98%. Communications Sales & Leasing,Inc.’s dividend payout ratio is -1,043.43%.

WARNING: “Advisors Asset Management Inc. Takes Position in Communications Sales & Leasing,Inc. (UNIT)” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another site, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/06/16/advisors-asset-management-inc-invests-683000-in-uniti-group-inc-unit-updated-updated.html.

A number of research analysts recently commented on UNIT shares. Deutsche Bank AG started coverage on Communications Sales & Leasing,Inc. in a research note on Monday, May 22nd. They issued a “buy” rating and a $28.00 price target for the company. Morgan Stanley started coverage on Communications Sales & Leasing,Inc. in a research note on Tuesday, February 28th. They issued an “overweight” rating for the company. Wells Fargo & Company started coverage on Communications Sales & Leasing,Inc. in a research note on Thursday, February 16th. They issued an “outperform” rating for the company. Finally, Zacks Investment Research downgraded Communications Sales & Leasing,Inc. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Communications Sales & Leasing,Inc. presently has a consensus rating of “Buy” and a consensus price target of $32.33.

In other news, insider Kenny Gunderman acquired 14,500 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were bought at an average cost of $24.15 per share, with a total value of $350,175.00. Following the acquisition, the insider now owns 262,053 shares in the company, valued at approximately $6,328,579.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.39% of the company’s stock.

About Communications Sales & Leasing,Inc.

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.

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