This stock IPO'd just over 1 year ago and is the first of its kind. It yields over 10%, with steady dividend coverage from long-term contracts. Its major new acquisition just started to contribute to earnings this month. Own any Telecom stocks? They're very popular with income investors due to their high dividend yields. This article provides an update to a newcomer in the Telecom world.
Communications Sales & Leasing (CSAL), which IPO'd in April 2015. CSAL is the only real estate investment trust (REIT) that engages in the acquisition and construction of infrastructure in the communications industry in the US. It owns 3.5 million fiber strand miles, 235,000 route miles of copper, and other property across 29 states. It's based in Little Rock, Arkansas. CSAL is an internally managed REIT with triple-net-leases. CSAL was spun off from Windstream Holdings (WIN) in an April 2015 IPO. (Source: CSAL website) CSAL made a large acquisition this year, buying PEG Bandwidth, a provider of fiber-to-the-tower, which complements the CSAL's towers and tower real estate assets.
Source: Seeking Alpha
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