Sarbit Advisory Services Exits Position in Communications Sales & Leasing Inc (CSAL)

Communications Sales & Leasing Inc (CSAL) : Sarbit Advisory Services has sold out all of its stake in Communications Sales & Leasing Inc during the most recent quarter, according to the disclosure filed by the company on Aug 11, 2016 with the SEC. The investment management company has sold out 51,800 shares of Communications Sales & Leasing Inc which is valued at $1,569,540.

Other Hedge Funds, Including , Ancora Advisors boosted its stake in CSAL in the latest quarter, The investment management firm added 6,928 additional shares and now holds a total of 99,996 shares of Communications Sales & Leasing Inc which is valued at $3,029,879. Communications Sales & Leasing Inc makes up approx 0.34% of Ancora Advisors’s portfolio.State Treasurer State Of Michigan boosted its stake in CSAL in the latest quarter, The investment management firm added 6,600 additional shares and now holds a total of 54,640 shares of Communications Sales & Leasing Inc which is valued at $1,671,984. Communications Sales & Leasing Inc makes up approx 0.01% of State Treasurer State Of Michigan’s portfolio. Integrated Wealth Management sold out all of its stake in CSAL during the most recent quarter. The investment firm sold 82 shares of CSAL which is valued $2,509.Carroll Financial Associates reduced its stake in CSAL by selling 84 shares or 20.79% in the most recent quarter. The Hedge Fund company now holds 320 shares of CSAL which is valued at $9,882.

Communications Sales & Leasing Inc opened for trading at $29.65 and hit $29.89 on the upside on Tuesday, eventually ending the session at $29.68, with a gain of 0.34% or 0.1 points. The heightened volatility saw the trading volume jump to 6,73,825 shares. Company has a market cap of $4,568 M.

On the company’s financial health, Communications Sales & Leasing Inc reported $0.63 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 11, 2016. Analyst had a consensus of $0.65. The company had revenue of $188.57 million for the quarter, compared to analysts expectations of $188.53 million. The company’s revenue was up 46.5% compared to the same quarter last year.

Investors should note that on Aug 9, 2016, Communications Sales & Leasing Inc announced a cash dividend of $0.6000. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 14, 2016.

Many Wall Street Analysts have commented on Communications Sales & Leasing Inc. Communications Sales & Leasing Inc was Resumed by Citigroup to “Buy” on Jul 5, 2016.

Communications Sales & Leasing Inc. (CS&L) is engaged in the ownership acquisition and leasing of communication distribution systems. The Company holds the fiber and copper networks and other real estate (the Distribution Systems) and a small consumer competitive local exchange carrier (CLEC) business (the Consumer CLEC Business). The Company’s leasing activities consists of leasing back to Windstream Holdings Inc. the Distribution Systems through a triple-net master lease agreement (the Master Lease). The Company also expands its portfolio by acquiring other real property assets within or outside of the communications infrastructure industry for lease to third-parties.

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