Communications Sales & Leasing,Inc. (UNIT) Shares Bought by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL grew its holdings in shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) by 636.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,000 shares of the real estate investment trust’s stock after acquiring an additional 57,900 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Communications Sales & Leasing,Inc. were worth $982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of UNIT. Farmers & Merchants Investments Inc. acquired a new position in Communications Sales & Leasing,Inc. during the second quarter worth about $265,000. Crossmark Global Holdings Inc. acquired a new position in Communications Sales & Leasing,Inc. during the third quarter worth about $316,000. IFP Advisors Inc raised its stake in Communications Sales & Leasing,Inc. by 12.6% during the second quarter. IFP Advisors Inc now owns 14,132 shares of the real estate investment trust’s stock worth $355,000 after acquiring an additional 1,585 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in Communications Sales & Leasing,Inc. during the first quarter worth about $479,000. Finally, Capstone Asset Management Co. raised its stake in Communications Sales & Leasing,Inc. by 8.7% during the second quarter. Capstone Asset Management Co. now owns 19,890 shares of the real estate investment trust’s stock worth $500,000 after acquiring an additional 1,590 shares in the last quarter. 69.62% of the stock is owned by hedge funds and other institutional investors.

Shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) opened at $15.71 on Wednesday. Communications Sales & Leasing,Inc. has a twelve month low of $13.81 and a twelve month high of $29.65. The company has a market capitalization of $2,853.03, a P/E ratio of 6.72, a P/E/G ratio of 0.89 and a beta of 1.26. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of -0.05.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 15.28%. The ex-dividend date is Thursday, December 28th. Communications Sales & Leasing,Inc.’s payout ratio is presently -774.19%.

Several research analysts have recently issued reports on the company. Royal Bank Of Canada lowered their price objective on Communications Sales & Leasing,Inc. from $32.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of Communications Sales & Leasing,Inc. in a research note on Monday, August 14th. Zacks Investment Research raised Communications Sales & Leasing,Inc. from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, August 9th. Cowen and Company reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Communications Sales & Leasing,Inc. in a research note on Friday, July 28th. Finally, Citigroup Inc. lowered their price objective on 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. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Communications Sales & Leasing,Inc. presently has a consensus rating of “Buy” and a consensus target price of $26.63.

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In related news, insider Kenny Gunderman bought 2,000 shares of Communications Sales & Leasing,Inc. stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of $19.23 per share, for a total transaction of $38,460.00. Following the completion of the acquisition, the insider now directly owns 267,553 shares of the company’s stock, valued at approximately $5,145,044.19. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 7,800 shares of company stock worth $148,300 over the last quarter. 0.39% of the stock is currently owned by company insiders.

About Communications Sales & Leasing,Inc.

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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Institutional Ownership by Quarter for Communications Sales & Leasing,Inc. (NASDAQ:UNIT)

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