Citigroup Reinstates Communications Sales & Leasing Inc to Buy

Brokerage firm Citigroup Reinstates its rating on Communications Sales & Leasing Inc(NASDAQ:CSAL). The shares have been rated Buy. The rating by Citigroup was issued on Jul 5, 2016.

Communications Sales & Leasing Inc (CSAL) made into the market gainers list on Fridays trading session with the shares advancing 3.74% or 1.1 points. Due to strong positive momentum, the stock ended at $30.5, which is also near the day’s high of $30.54. The stock began the session at $29.61 and the volume stood at 16,95,683 shares. The 52-week high of the shares is $30.54 and the 52 week low is $15.13. The company has a current market capitalization of $4,625 M and it has 15,16,23,210 shares in outstanding.

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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