Gabelli Funds LLC Has $2.29 Million Stake in Communications Sales & Leasing,Inc. (UNIT)

Gabelli Funds LLC lifted its position in Communications Sales & Leasing,Inc. (NASDAQ:UNIT) by 188.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,000 shares of the real estate investment trust’s stock after acquiring an additional 102,000 shares during the quarter. Gabelli Funds LLC owned 0.09% of Communications Sales & Leasing,Inc. worth $2,287,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of UNIT. Teachers Advisors LLC purchased a new position in Communications Sales & Leasing,Inc. in the 1st quarter worth about $7,790,000. Forsta AP Fonden increased its stake in Communications Sales & Leasing,Inc. by 471.2% in the 2nd quarter. Forsta AP Fonden now owns 226,200 shares of the real estate investment trust’s stock worth $5,687,000 after buying an additional 186,600 shares during the period. Janus Capital Management LLC purchased a new position in Communications Sales & Leasing,Inc. in the 1st quarter worth about $3,252,000. Gamco Investors INC. ET AL increased its stake in Communications Sales & Leasing,Inc. by 636.3% in the 3rd quarter. Gamco Investors INC. ET AL now owns 67,000 shares of the real estate investment trust’s stock worth $982,000 after buying an additional 57,900 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Communications Sales & Leasing,Inc. in the 1st quarter worth about $1,401,000. 69.62% of the stock is currently owned by institutional investors.

In other Communications Sales & Leasing,Inc. news, insider Kenny Gunderman acquired 2,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average cost of $19.23 per share, for a total transaction of $38,460.00. Following the purchase, the insider now owns 267,553 shares in the company, valued at approximately $5,145,044.19. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have acquired 7,800 shares of company stock valued at $148,300. Company insiders own 0.39% of the company’s stock.

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Shares of Communications Sales & Leasing,Inc. (NASDAQ:UNIT) opened at $16.26 on Tuesday. The company has a market cap of $2,917.95, a P/E ratio of 6.87, a P/E/G ratio of 0.91 and a beta of 1.26. The company has a debt-to-equity ratio of -0.05, a current ratio of 0.03 and a quick ratio of 0.03. Communications Sales & Leasing,Inc. has a 12 month low of $13.81 and a 12 month high of $29.65.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 14.76%. The ex-dividend date is Thursday, December 28th. Communications Sales & Leasing,Inc.’s payout ratio is -774.19%.

Several research analysts recently commented on UNIT shares. Cowen and Company reaffirmed a “buy” rating and issued a $33.00 price target on shares of Communications Sales & Leasing,Inc. in a research note on Friday, July 28th. Citigroup Inc. reduced their price target on shares of Communications Sales & Leasing,Inc. from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Zacks Investment Research raised shares of Communications Sales & Leasing,Inc. from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, August 9th. J P Morgan Chase & Co reissued an “overweight” rating and set a $31.00 target price on shares of Communications Sales & Leasing,Inc. in a research report on Monday, August 14th. Finally, Bank of America Corporation downgraded shares of Communications Sales & Leasing,Inc. from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 15th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $26.63.

Communications Sales & Leasing,Inc. 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.

Want to see what other hedge funds are holding UNIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Communications Sales & Leasing,Inc. (NASDAQ:UNIT).

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

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