Pvg Asset Management buys $7.5 Million stake in Communications Sales & Leasing Inc (CSAL)

Communications Sales & Leasing Inc (CSAL) : Pvg Asset Management scooped up 64,104 additional shares in Communications Sales & Leasing Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 316,382 shares of Communications Sales & Leasing Inc which is valued at $7.5 Million.Communications Sales & Leasing Inc makes up approximately 2.90% of Pvg Asset Management’s portfolio.

Other Hedge Funds, Including , Signaturefd sold out all of its stake in CSAL during the most recent quarter. The investment firm sold 135 shares of CSAL which is valued $3,204.Retirement Systems Of Alabama boosted its stake in CSAL in the latest quarter, The investment management firm added 506 additional shares and now holds a total of 155,264 shares of Communications Sales & Leasing Inc which is valued at $3.6 Million. Communications Sales & Leasing Inc makes up approx 0.02% of Retirement Systems Of Alabama’s portfolio. Asset Dedication sold out all of its stake in CSAL during the most recent quarter. The investment firm sold 11 shares of CSAL which is valued $256.

Communications Sales & Leasing Inc opened for trading at $23.92 and hit $24.33 on the upside on Friday, eventually ending the session at $23.9, with a gain of 0.13% or 0.03 points. The heightened volatility saw the trading volume jump to 5,92,940 shares. Company has a market cap of $3,623,790 M.

On the company’s financial health, Communications Sales & Leasing Inc reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 12, 2016. Analyst had a consensus of $0.64. The company had revenue of $174.70 million for the quarter, compared to analysts expectations of $174.39 million.

Investors should note that on May 10, 2016, Communications Sales & Leasing Inc announced a cash dividend of $0.6000. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 15, 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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