Communications Sales & Leasing,Inc. (NASDAQ:UNIT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $23.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 23.46% from the stock’s previous close.

According to Zacks, “Uniti Group Inc. is a real estate investment trust company. It engaged in the acquisition and construction of mission critical 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. Uniti Group Inc. is headquartered in Little Rock, AR. “

Several other research firms have also recently commented on UNIT. ValuEngine cut shares of Communications Sales & Leasing,Inc. from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Deutsche Bank AG started coverage on shares of Communications Sales & Leasing,Inc. in a research note on Monday, May 22nd. They issued a “buy” rating and a $28.00 target price for the company. J P Morgan Chase & Co restated an “overweight” rating and issued a $31.00 target price on shares of Communications Sales & Leasing,Inc. in a research note on Monday. Citigroup Inc. reduced their target price on shares of Communications Sales & Leasing,Inc. from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, August 7th. Finally, Royal Bank Of Canada started coverage on shares of Communications Sales & Leasing,Inc. in a research note on Monday, June 19th. They issued an “outperform” rating and a $32.00 target price for the company. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.13.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) opened at 18.63 on Wednesday. The company’s 50-day moving average is $24.31 and its 200-day moving average is $25.78. Communications Sales & Leasing,Inc. has a 52-week low of $18.14 and a 52-week high of $32.73. The firm’s market capitalization is $3.27 billion.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.06. The firm had revenue of $213.01 million for the quarter, compared to the consensus estimate of $214.09 million. During the same period in the previous year, the business earned $0.56 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts predict that Communications Sales & Leasing,Inc. will post ($0.20) EPS for the current year.

WARNING: “Communications Sales & Leasing,Inc. (UNIT) Rating Increased to Buy at Zacks Investment Research” was first published by American Banking News and is the property of of American Banking News. If you are accessing this report on another website, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/08/16/communications-sales-leasinginc-unit-rating-increased-to-buy-at-zacks-investment-research.html.

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

Several hedge funds have recently made changes to their positions in the stock. Sei Investments Co. bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $107,000. Delta Asset Management LLC TN bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $127,000. Glen Harbor Capital Management LLC bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $134,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $136,000. Finally, Tyers Asset Management LLC bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $184,000. Hedge funds and other institutional investors own 58.14% 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.

Get a free copy of the Zacks research report on Communications Sales & Leasing,Inc. (UNIT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.