CROWN CASTLE IN/SH SH (NYSE:CCI) was the recipient of unusually large options trading on Wednesday. Traders acquired 59,518 call options on the stock. This represents an increase of approximately 1,834% compared to the average volume of 3,077 call options.
In other news, Director J Landis Martin acquired 18,350 shares of the stock in a transaction on Wednesday, April 24th. The shares were purchased at an average price of $123.13 per share, for a total transaction of $2,259,435.50. Following the transaction, the director now directly owns 120,717 shares of the company’s stock, valued at $14,863,884.21. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert Sean Collins sold 1,200 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total value of $150,228.00. Following the transaction, the vice president now owns 1,616 shares in the company, valued at approximately $202,307.04. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lenox Wealth Management Inc. boosted its stake in CROWN CASTLE IN/SH SH by 2,222.2% in the first quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 200 shares in the last quarter. CX Institutional boosted its stake in CROWN CASTLE IN/SH SH by 160.7% in the first 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 in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in CROWN CASTLE IN/SH SH in the fourth quarter valued at about $26,000. Truewealth LLC boosted its stake in CROWN CASTLE IN/SH SH by 48.0% in the first quarter. Truewealth LLC now owns 256 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 83 shares in the last quarter. Finally, Coastal Investment Advisors Inc. acquired a new stake in CROWN CASTLE IN/SH SH in the first quarter valued at about $34,000. Institutional investors own 92.19% of the company’s stock.
Shares of NYSE CCI opened at $135.09 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.91. CROWN CASTLE IN/SH SH has a 52 week low of $99.99 and a 52 week high of $137.31. The firm has a market capitalization of $56.50 billion, a P/E ratio of 24.65, a P/E/G ratio of 1.57 and a beta of 0.34.
CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.93). CROWN CASTLE IN/SH SH had a return on equity of 6.31% and a net margin of 13.82%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the business posted $0.21 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that CROWN CASTLE IN/SH SH will post 5.59 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $1.125 dividend. This represents a $4.50 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, June 13th. CROWN CASTLE IN/SH SH’s payout ratio is currently 82.12%.
Several research firms have weighed in on CCI. Morgan Stanley increased their price objective on CROWN CASTLE IN/SH SH from $120.00 to $129.00 and gave the stock an “overweight” rating in a research report on Monday, March 11th. UBS Group cut CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 price objective on the stock. in a research report on Thursday, April 11th. Bank of America increased their price objective on CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Guggenheim cut CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a research report on Friday, April 12th. They noted that the move was a valuation call. Finally, Wells Fargo & Co increased their price objective on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $123.25.
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CROWN CASTLE IN/SH SH Company Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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