Communications Sales & Leasing,Inc. (NASDAQ:UNIT) was the target of a large growth in short interest during the month of September. As of September 29th, there was short interest totalling 23,808,741 shares, a growth of 94.4% from the September 15th total of 12,245,708 shares. Based on an average trading volume of 7,536,723 shares, the days-to-cover ratio is currently 3.2 days. Currently, 14.5% of the shares of the company are sold short.

In other news, insider Kenny Gunderman purchased 4,000 shares of the stock in a transaction dated Monday, August 21st. The stock was acquired at an average cost of $18.88 per share, for a total transaction of $75,520.00. Following the acquisition, the insider now owns 271,553 shares of the company’s stock, valued at $5,126,920.64. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Daniel L. Heard purchased 5,400 shares of the stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average price of $18.54 per share, with a total value of $100,116.00. Following the completion of the acquisition, the executive vice president now directly owns 40,793 shares in the company, valued at approximately $756,302.22. The disclosure for this purchase can be found here. Insiders bought a total of 15,700 shares of company stock valued at $297,116 over the last quarter. Company insiders own 0.39% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC boosted its position 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 valued at $1,154,000 after buying an additional 1,047 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in Communications Sales & Leasing,Inc. by 86.5% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 37,949 shares of the real estate investment trust’s stock valued at $954,000 after buying an additional 17,600 shares during the last quarter. SG Americas Securities LLC boosted its position in Communications Sales & Leasing,Inc. by 79.6% in the 2nd quarter. SG Americas Securities LLC now owns 43,512 shares of the real estate investment trust’s stock valued at $1,094,000 after buying an additional 19,281 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Communications Sales & Leasing,Inc. by 117.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 78,800 shares of the real estate investment trust’s stock valued at $1,981,000 after buying an additional 42,500 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Communications Sales & Leasing,Inc. by 12.6% in the 2nd quarter. IFP Advisors Inc now owns 14,132 shares of the real estate investment trust’s stock valued at $355,000 after buying an additional 1,585 shares during the last quarter. Hedge funds and other institutional investors own 68.19% of the company’s stock.

Communications Sales & Leasing,Inc. (UNIT) opened at 15.13 on Thursday. The firm’s market cap is $2.65 billion. The company’s 50-day moving average price is $16.42 and its 200-day moving average price is $16.42. Communications Sales & Leasing,Inc. has a 52-week low of $13.81 and a 52-week high of $30.66.

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 for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.06). The company had revenue of $213.01 million during the quarter, compared to analysts’ expectations of $214.09 million. During the same period last year, the company earned $0.56 earnings per share. Communications Sales & Leasing,Inc.’s quarterly revenue was up 13.0% on a year-over-year basis. Analysts predict that Communications Sales & Leasing,Inc. will post ($0.20) EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 15.86%. Communications Sales & Leasing,Inc.’s payout ratio is -750.00%.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Communications Sales & Leasing,Inc. from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded Communications Sales & Leasing,Inc. from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. J P Morgan Chase & Co lowered Communications Sales & Leasing,Inc. from an “overweight” rating to a “neutral” rating in a research report on Monday, October 2nd. Citigroup Inc. lowered Communications Sales & Leasing,Inc. from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $32.00 price objective on shares of Communications Sales & Leasing,Inc. in a research report on Monday, September 18th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $29.44.

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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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