Trading Report: The Teacher Retirement System of Texas Boosts Position in Communications Sales & Leasing Inc. (CSAL)

The Teacher Retirement System of Texas Boosts Position in Communications Sales & Leasing Inc. (CSAL)

Teacher Retirement System of Texas boosted its position in shares of Communications Sales & Leasing Inc. (NASDAQ:CSAL) by 13.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,960 shares of the company’s stock after buying an additional 2,162 shares during the period. Teacher Retirement System of Texas’ holdings in Communications Sales & Leasing were worth $519,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. IBM Retirement Fund increased its stake in Communications Sales & Leasing by 1.2% in the second quarter. IBM Retirement Fund now owns 12,336 shares of the company’s stock worth $357,000 after buying an additional 147 shares during the period. Lathrop Investment Management Corp increased its stake in Communications Sales & Leasing by 2.4% in the second quarter. Lathrop Investment Management Corp now owns 10,406 shares of the company’s stock worth $301,000 after buying an additional 239 shares during the period. Aston Asset Management LLC increased its stake in Communications Sales & Leasing by 2.8% in the first quarter. Aston Asset Management LLC now owns 12,075 shares of the company’s stock worth $276,000 after buying an additional 333 shares during the period. MSI Financial Services Inc increased its stake in Communications Sales & Leasing by 3.2% in the second quarter. MSI Financial Services Inc now owns 15,872 shares of the company’s stock worth $459,000 after buying an additional 498 shares during the period. Finally, Utah Retirement Systems increased its stake in Communications Sales & Leasing by 2.8% in the second quarter. Utah Retirement Systems now owns 22,233 shares of the company’s stock worth $643,000 after buying an additional 600 shares during the period. 57.75% of the stock is owned by hedge funds and other institutional investors.

Shares of Communications Sales & Leasing Inc. (NASDAQ:CSAL) traded down 0.83% during midday trading on Wednesday, hitting $29.74. The stock had a trading volume of 333,448 shares. Communications Sales & Leasing Inc. has a 1-year low of $15.13 and a 1-year high of $32.73. The firm has a 50-day moving average price of $30.89 and a 200-day moving average price of $27.43. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 152.51 and a beta of 1.27.

Communications Sales & Leasing (NASDAQ:CSAL) last released its earnings results on Thursday, August 11th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.09. The business earned $188.60 million during the quarter, compared to analysts’ expectations of $189.04 million. Communications Sales & Leasing had a net margin of 3.25% and a negative return on equity of 1.89%. The business’s quarterly revenue was up 46.5% compared to the same quarter last year. On average, equities analysts anticipate that Communications Sales & Leasing Inc. will post $2.43 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.00%. Communications Sales & Leasing’s payout ratio is currently 1,714.29%.

A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Communications Sales & Leasing from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Tuesday, July 12th. Citigroup Inc. reissued a “buy” rating and set a $32.00 price target on shares of Communications Sales & Leasing in a research report on Tuesday, July 5th. JPMorgan Chase & Co. assumed coverage on Communications Sales & Leasing in a research report on Monday, September 26th. They issued an “overweight” rating for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Communications Sales & Leasing in a research report on Sunday, July 24th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Communications Sales & Leasing currently has a consensus rating of “Buy” and a consensus target price of $27.90.

About Communications Sales & Leasing

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.

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