New York State Teachers Retirement System Invests $6.17 Million in Communications Sales & Leasing,Inc. (UNIT)

New York State Teachers Retirement System acquired a new position in shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 238,748 shares of the real estate investment trust’s stock, valued at approximately $6,172,000. New York State Teachers Retirement System owned 0.15% of Communications Sales & Leasing,Inc. as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UNIT. Texas Permanent School Fund bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $2,624,000. Retirement Systems of Alabama bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $8,308,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $10,918,000. Wildcat Capital Management LLC bought a new stake in shares of Communications Sales & Leasing,Inc. during the first quarter valued at about $4,214,000. Finally, Horrell Capital Management Inc. acquired a new position in Communications Sales & Leasing,Inc. during the first quarter worth $2,599,000. 50.90% of the stock is owned by institutional investors.

Shares of Communications Sales & Leasing,Inc. (NASDAQ UNIT) traded down 0.49% on Friday, hitting $26.26. 535,523 shares of the stock traded hands. Communications Sales & Leasing,Inc. has a 12-month low of $22.50 and a 12-month high of $32.73. The firm’s market cap is $4.61 billion. The firm’s 50-day moving average is $25.87 and its 200 day moving average is $26.15.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.14%. Communications Sales & Leasing,Inc.’s dividend payout ratio (DPR) is presently -1,043.43%.

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A number of equities research analysts have recently issued reports on UNIT shares. Cowen and Company reissued a “buy” rating and issued a $33.00 price target on shares of Communications Sales & Leasing,Inc. in a research note on Friday. Zacks Investment Research raised shares of Communications Sales & Leasing,Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 6th. ValuEngine downgraded shares of 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 shares of Communications Sales & Leasing,Inc. in a research note on Monday, June 19th. They set an “outperform” rating and a $32.00 target price on the stock. Finally, Deutsche Bank AG upped their target price on shares of 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. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Communications Sales & Leasing,Inc. presently has an average rating of “Buy” and an average target price of $32.17.

In related news, insider Kenny Gunderman purchased 14,500 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was acquired at an average price of $24.15 per share, for a total transaction of $350,175.00. Following the completion of the purchase, the insider now owns 262,053 shares in the company, valued at $6,328,579.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by insiders.

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.

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

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