Oppenheimer & Co. Inc. increased its stake in Communications Sales & Leasing Inc. (NASDAQ:CSAL) by 2.9% during the third quarter, Holdings Channel reports. The fund owned 130,088 shares of the company’s stock after buying an additional 3,636 shares during the period. Oppenheimer & Co. Inc.’s holdings in Communications Sales & Leasing were worth $4,086,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the company. Sigma Planning Corp bought a new stake in shares of Communications Sales & Leasing during the third quarter valued at approximately $209,000. Sei Investments Co. boosted its stake in shares of Communications Sales & Leasing by 24.8% in the third quarter. Sei Investments Co. now owns 6,060 shares of the company’s stock valued at $191,000 after buying an additional 1,203 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Communications Sales & Leasing by 7.3% in the third quarter. UBS Asset Management Americas Inc. now owns 134,335 shares of the company’s stock valued at $4,220,000 after buying an additional 9,170 shares during the last quarter. Adell Harriman & Carpenter Inc. boosted its stake in shares of Communications Sales & Leasing by 2.3% in the third quarter. Adell Harriman & Carpenter Inc. now owns 185,711 shares of the company’s stock valued at $5,833,000 after buying an additional 4,150 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Communications Sales & Leasing by 2.6% in the third quarter. PNC Financial Services Group Inc. now owns 75,825 shares of the company’s stock valued at $2,382,000 after buying an additional 1,939 shares during the last quarter. Institutional investors and hedge funds own 62.12% of the company’s stock.

Institutional Ownership by Quarter for Communications Sales & Leasing (NASDAQ:CSAL)

Shares of Communications Sales & Leasing Inc. (NASDAQ:CSAL) traded down 0.43% during trading on Tuesday, reaching $25.32. 1,036,494 shares of the company traded hands. The firm has a 50 day moving average of $0.00 and a 200 day moving average of $0.00. Communications Sales & Leasing Inc. has a 52 week low of $15.13 and a 52 week high of $32.73.

Communications Sales & Leasing (NASDAQ:CSAL) last released its quarterly earnings results on Monday, November 14th. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The firm had revenue of $200.20 million for the quarter, compared to analyst estimates of $198.62 million. Communications Sales & Leasing had a net margin of 1.54% and a negative return on equity of 0.88%. The business’s revenue was up 15.3% compared to the same quarter last year. On average, equities analysts forecast that Communications Sales & Leasing Inc. will post $2.33 EPS for the current year.

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Several brokerages have commented on CSAL. Zacks Investment Research cut shares of Communications Sales & Leasing from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 16th. Raymond James Financial Inc. upgraded shares of Communications Sales & Leasing from an “outperform” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, November 2nd. Cowen and Company began coverage on shares of Communications Sales & Leasing in a research report on Thursday, October 13th. They set an “outperform” rating and a $34.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Communications Sales & Leasing in a research report on Monday, September 26th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $32.80.

Communications Sales & Leasing Company Profile

Communications Sales & Leasing, Inc (CS&L) is an internally managed real estate investment trust (REIT) engaged in the acquisition and construction of a range of infrastructure in the communications industry. The Company is focused on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.

5 Day Chart for NASDAQ:CSAL

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