Communications Sales & Leasing,Inc. (NASDAQ:UNIT) was the recipient of a large growth in short interest in October. As of October 13th, there was short interest totalling 26,198,643 shares, a growth of 10.0% from the September 29th total of 23,808,741 shares. Based on an average daily trading volume, of 4,526,408 shares, the days-to-cover ratio is presently 5.8 days. Approximately 16.0% of the shares of the stock are sold short.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) opened at 16.82 on Thursday. The stock’s market capitalization is $2.95 billion. Communications Sales & Leasing,Inc. has a 1-year low of $13.81 and a 1-year high of $29.65. The firm has a 50-day moving average of $16.43 and a 200-day moving average of $22.38.

Communications Sales & Leasing,Inc. (NASDAQ:UNIT) last announced 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 business had revenue of $213.01 million for the quarter, compared to the consensus estimate of $214.09 million. During the same quarter in the previous year, the business earned $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) EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 14.27%. The ex-dividend date was Thursday, September 28th. Communications Sales & Leasing,Inc.’s dividend payout ratio (DPR) is presently -750.00%.

In other Communications Sales & Leasing,Inc. news, EVP Daniel L. Heard bought 5,400 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were acquired at an average cost of $18.54 per share, with a total value of $100,116.00. Following the purchase, the executive vice president now directly owns 40,793 shares of the company’s stock, valued at approximately $756,302.22. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kenny Gunderman bought 2,500 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was acquired at an average cost of $19.48 per share, for a total transaction of $48,700.00. Following the completion of the purchase, the insider now directly owns 266,553 shares in the company, valued at $5,192,452.44. The disclosure for this purchase can be found here. Insiders purchased a total of 15,700 shares of company stock worth $297,116 over the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $242,000. UBS Asset Management Americas Inc. purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $2,085,000. Sei Investments Co. purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $107,000. Parametric Portfolio Associates LLC purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $2,965,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Communications Sales & Leasing,Inc. during the first quarter valued at approximately $7,140,000. 68.40% of the stock is currently owned by institutional investors.

A number of research analysts have weighed in on the stock. Cowen and Company reissued a “buy” rating and issued a $30.00 target price on shares of Communications Sales & Leasing,Inc. in a research note on Thursday, October 19th. Zacks Investment Research lowered shares of Communications Sales & Leasing,Inc. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. ValuEngine raised shares of Communications Sales & Leasing,Inc. from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. J P Morgan Chase & Co lowered shares of Communications Sales & Leasing,Inc. from an “overweight” rating to a “neutral” rating in a research note on Monday, October 2nd. Finally, Citigroup Inc. lowered shares of Communications Sales & Leasing,Inc. from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 26th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $29.11.

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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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