Communications Sales & Leasing,Inc. (NASDAQ:UNIT) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Other analysts have also issued research reports about the stock. J P Morgan Chase & Co restated an “overweight” rating and set a $31.00 price target on shares of Communications Sales & Leasing,Inc. in a research report on Monday, August 14th. Zacks Investment Research upgraded shares of Communications Sales & Leasing,Inc. from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, August 9th. Cowen and Company reiterated a “buy” rating and issued a $33.00 price objective on shares of Communications Sales & Leasing,Inc. in a research report on Friday, July 28th. Citigroup Inc. lowered their target price on shares of Communications Sales & Leasing,Inc. from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Finally, Royal Bank Of Canada initiated coverage on Communications Sales & Leasing,Inc. in a research report on Monday, June 19th. They set an “outperform” rating and a $32.00 target price on the stock. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $29.44.

Shares of Communications Sales & Leasing,Inc. (NASDAQ UNIT) traded down 0.41% during mid-day trading on Monday, hitting $14.60. 4,814,930 shares of the stock were exchanged. Communications Sales & Leasing,Inc. has a 52-week low of $13.81 and a 52-week high of $30.95. The stock’s 50-day moving average price is $16.85 and its 200-day moving average price is $16.85. The company’s market cap is $2.56 billion. Communications Sales & Leasing,Inc. also was the recipient of some unusual options trading activity on Friday. Traders acquired 5,423 put options on the stock. This is an increase of 313% compared to the average daily volume of 1,313 put options.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). The firm had revenue of $213.01 million for the quarter, compared to analysts’ expectations of $214.09 million. During the same period last year, the business posted $0.56 earnings per share. Communications Sales & Leasing,Inc.’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts anticipate that Communications Sales & Leasing,Inc. will post ($0.20) earnings per share for the current fiscal year.

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In related news, insider Kenny Gunderman purchased 2,500 shares of Communications Sales & Leasing,Inc. stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average price of $19.48 per share, for a total transaction of $48,700.00. Following the transaction, the insider now directly owns 266,553 shares in the company, valued at $5,192,452.44. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Daniel L. Heard purchased 5,400 shares of Communications Sales & Leasing,Inc. stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average price of $18.54 per share, with a total value of $100,116.00. Following the transaction, the executive vice president now owns 40,793 shares in the company, valued at $756,302.22. The disclosure for this purchase can be found here. In the last quarter, insiders bought 15,700 shares of company stock worth $297,116. Company insiders own 0.39% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC boosted its holdings in Communications Sales & Leasing,Inc. by 2.3% in the 2nd quarter. Advisory Services Network LLC now owns 45,920 shares of the real estate investment trust’s stock worth $1,154,000 after buying an additional 1,047 shares during the last quarter. IFP Advisors Inc increased its stake in Communications Sales & Leasing,Inc. by 12.6% during the 2nd 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 in the last quarter. Capstone Asset Management Co. increased its stake in Communications Sales & Leasing,Inc. by 8.7% during the 2nd 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 in the last quarter. Sei Investments Co. purchased a new stake in Communications Sales & Leasing,Inc. during the 1st quarter worth approximately $107,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Communications Sales & Leasing,Inc. during the 1st quarter worth approximately $136,000. 68.19% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Communications Sales & Leasing,Inc. (NASDAQ:UNIT)

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