Communications Sales & Leasing,Inc. (NASDAQ:UNIT) had its price target reduced by Citigroup Inc. from $30.00 to $27.00 in a research note issued on Monday. The firm presently has a “buy” rating on the real estate investment trust’s stock. Citigroup Inc.’s target price suggests a potential upside of 17.75% from the company’s current price.

UNIT has been the subject of several other research reports. Zacks Investment Research downgraded Communications Sales & Leasing,Inc. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. ValuEngine downgraded Communications Sales & Leasing,Inc. from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Royal Bank Of Canada initiated coverage on Communications Sales & Leasing,Inc. in a research note on Monday, June 19th. They set an “outperform” rating and a $32.00 price target for the company. Deutsche Bank AG lifted their price target on Communications Sales & Leasing,Inc. from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, June 7th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $33.00 price target on shares of Communications Sales & Leasing,Inc. in a research note on Friday, July 28th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $31.43.

Communications Sales & Leasing,Inc. (NASDAQ UNIT) traded up 4.99% during midday trading on Monday, hitting $22.93. 2,479,989 shares of the stock were exchanged. Communications Sales & Leasing,Inc. has a one year low of $21.66 and a one year high of $32.73. The firm has a 50-day moving average price of $25.79 and a 200-day moving average price of $26.14. The stock’s market cap is $4.02 billion.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.06. The firm had revenue of $213.01 million during the quarter, compared to analyst estimates of $214.09 million. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 earnings per share. On average, equities research analysts anticipate that Communications Sales & Leasing,Inc. will post ($0.10) EPS for the current fiscal year.

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In other news, insider Kenny Gunderman bought 14,500 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average price of $24.15 per share, with a total value of $350,175.00. Following the purchase, the insider now owns 262,053 shares of the company’s stock, valued at approximately $6,328,579.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in UNIT. Sei Investments Co. purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at $107,000. Delta Asset Management LLC TN purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at $127,000. Glen Harbor Capital Management LLC purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at $134,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at $136,000. Finally, Tyers Asset Management LLC purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at $184,000. 56.96% of the stock is 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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