Investment analysts at Royal Bank Of Canada assumed coverage on shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set an “outperform” rating and a $32.00 price target on the real estate investment trust’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 15.68% from the stock’s previous close.

Several other research analysts have also recently commented on UNIT. Morgan Stanley began coverage on shares of Communications Sales & Leasing,Inc. in a research report on Tuesday, February 28th. They issued an “overweight” rating for the company. Zacks Investment Research cut shares of Communications Sales & Leasing,Inc. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Finally, Deutsche Bank AG began coverage on shares of Communications Sales & Leasing,Inc. in a research report on Monday, May 22nd. They issued a “buy” rating and a $28.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $32.29.

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

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) traded up 3.44% during trading on Monday, hitting $27.65. The company had a trading volume of 852,199 shares. The company’s 50 day moving average price is $25.56 and its 200-day moving average price is $26.18. Communications Sales & Leasing,Inc. has a 12 month low of $22.50 and a 12 month high of $32.73. The company’s market cap is $4.85 billion.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 8.68%. The ex-dividend date of this dividend is Wednesday, June 28th. Communications Sales & Leasing,Inc.’s dividend payout ratio (DPR) is -1,043.43%.

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In other news, insider Kenny Gunderman bought 14,500 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was purchased at an average price of $24.15 per share, for a total transaction of $350,175.00. Following the transaction, the insider now owns 262,053 shares in the company, valued at $6,328,579.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of UNIT. Sei Investments Co. purchased a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $107,000. Delta Asset Management LLC TN purchased a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $127,000. Glen Harbor Capital Management LLC purchased a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $134,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $136,000. Finally, Tyers Asset Management LLC purchased a new position in Communications Sales & Leasing,Inc. during the first quarter valued at approximately $184,000. Hedge funds and other institutional investors own 51.16% of the company’s stock.

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.

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