Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 16.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,681 shares of the real estate investment trust’s stock after acquiring an additional 2,406 shares during the period. CROWN CASTLE IN/SH SH accounts for approximately 1.9% of Farmers & Merchants Trust Co of Chambersburg PA’s investment portfolio, making the stock its 14th biggest holding. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in CROWN CASTLE IN/SH SH were worth $2,135,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of CCI. Capital Investment Advisory Services LLC acquired a new stake in CROWN CASTLE IN/SH SH during the 4th quarter worth about $26,000. Covington Capital Management acquired a new stake in shares of CROWN CASTLE IN/SH SH in the 4th quarter valued at about $29,000. CX Institutional grew its stake in shares of CROWN CASTLE IN/SH SH by 160.7% in the 1st quarter. CX Institutional now owns 232 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 143 shares during the period. Athena Capital Advisors LLC acquired a new stake in shares of CROWN CASTLE IN/SH SH in the 4th quarter valued at about $33,000. Finally, Doyle Wealth Management acquired a new stake in shares of CROWN CASTLE IN/SH SH in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.
In related news, SVP Michael Joseph Kavanagh sold 2,500 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $120.06, for a total value of $300,150.00. Following the transaction, the senior vice president now owns 38,471 shares of the company’s stock, valued at approximately $4,618,828.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward C. Hutcheson, Jr. purchased 350 shares of the company’s stock in a transaction that occurred on Friday, February 8th. The stock was acquired at an average cost of $117.95 per share, for a total transaction of $41,282.50. Following the transaction, the director now owns 59,187 shares in the company, valued at approximately $6,981,106.65. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by company insiders.
NYSE CCI traded down $1.79 during trading hours on Monday, hitting $127.08. The company’s stock had a trading volume of 21,233 shares, compared to its average volume of 1,867,035. CROWN CASTLE IN/SH SH has a 52 week low of $98.85 and a 52 week high of $130.60. The stock has a market cap of $53.55 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.48 and a beta of 0.42. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.87 and a current ratio of 0.87.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its quarterly earnings results on Wednesday, January 23rd. The real estate investment trust reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. CROWN CASTLE IN/SH SH had a net margin of 11.86% and a return on equity of 5.17%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. The company’s revenue was up 14.6% on a year-over-year basis. On average, sell-side analysts predict that CROWN CASTLE IN/SH SH will post 5.6 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $1.125 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.50 annualized dividend and a yield of 3.54%. CROWN CASTLE IN/SH SH’s payout ratio is 82.12%.
Several analysts have recently commented on the company. Morgan Stanley raised their target price on CROWN CASTLE IN/SH SH from $120.00 to $129.00 and gave the company an “overweight” rating in a research note on Monday, March 11th. UBS Group downgraded CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 target price for the company. in a research note on Thursday. Zacks Investment Research downgraded CROWN CASTLE IN/SH SH from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Bank of America raised their target price on CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, Guggenheim downgraded CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a research note on Friday. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $122.50.
CROWN CASTLE IN/SH SH Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 65,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.
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