Toscafund Asset Management Llp Lowers stake in Communications Sales & Leasing Inc (CSAL)

Communications Sales & Leasing Inc (CSAL) : Toscafund Asset Management Llp reduced its stake in Communications Sales & Leasing Inc by 65.22% during the most recent quarter end. The investment management company now holds a total of 800,000 shares of Communications Sales & Leasing Inc which is valued at $19,472,000 after selling 1,500,000 shares in Communications Sales & Leasing Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Communications Sales & Leasing Inc makes up approximately 16.60% of Toscafund Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Steadfast Capital Management Lp boosted its stake in CSAL in the latest quarter, The investment management firm added 941,544 additional shares and now holds a total of 2,517,757 shares of Communications Sales & Leasing Inc which is valued at $61,282,205. Communications Sales & Leasing Inc makes up approx 1.15% of Steadfast Capital Management Lp’s portfolio.California State Teachers Retirement System boosted its stake in CSAL in the latest quarter, The investment management firm added 2,400 additional shares and now holds a total of 268,211 shares of Communications Sales & Leasing Inc which is valued at $7,338,253. Communications Sales & Leasing Inc makes up approx 0.02% of California State Teachers Retirement System’s portfolio.Vantage Investment Advisors reduced its stake in CSAL by selling 791 shares or 79.1% in the most recent quarter. The Hedge Fund company now holds 209 shares of CSAL which is valued at $5,718. Spot Trading L.l.c sold out all of its stake in CSAL during the most recent quarter. The investment firm sold 900 shares of CSAL which is valued $23,751.

Communications Sales & Leasing Inc opened for trading at $23.97 and hit $24.34 on the upside on Monday, eventually ending the session at $24.32, with a gain of 1.46% or 0.35 points. The heightened volatility saw the trading volume jump to 8,86,164 shares. Company has a market cap of $3,789 M.

On the company’s financial health, Communications Sales & Leasing Inc reported $0.61 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 14, 2016. Analyst had a consensus of $0.62. The company had revenue of $200.20 million for the quarter, compared to analysts expectations of $198.03 million. The company’s revenue was up 15.3% compared to the same quarter last year.

Investors should note that on Nov 8, 2016, Communications Sales & Leasing Inc announced a cash dividend of $0.6000. The company’s management has announced Dec 28, 2016 as the ex-dividend date and fixed the record date on Dec 30, 2016. The payable date has been fixed on Jan 13, 2017.

Many Wall Street Analysts have commented on Communications Sales & Leasing Inc. Communications Sales & Leasing Inc was Upgraded by Raymond James to ” Strong Buy” on Nov 2, 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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