Royal London Asset Management Ltd. reduced its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,699 shares of the real estate investment trust’s stock after selling 2,656 shares during the period. Royal London Asset Management Ltd.’s holdings in CROWN CASTLE IN/SH SH were worth $21,715,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Commonwealth Bank of Australia raised its stake in shares of CROWN CASTLE IN/SH SH by 31.4% during the 1st quarter. Commonwealth Bank of Australia now owns 2,174,349 shares of the real estate investment trust’s stock worth $278,303,000 after purchasing an additional 519,210 shares in the last quarter. Argent Capital Management LLC acquired a new position in shares of CROWN CASTLE IN/SH SH during the 1st quarter valued at about $51,756,000. California Public Employees Retirement System increased its holdings in shares of CROWN CASTLE IN/SH SH by 18.8% during the 1st quarter. California Public Employees Retirement System now owns 2,460,798 shares of the real estate investment trust’s stock valued at $314,982,000 after acquiring an additional 388,843 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of CROWN CASTLE IN/SH SH by 8.2% during the 4th quarter. Geode Capital Management LLC now owns 4,929,209 shares of the real estate investment trust’s stock valued at $534,436,000 after acquiring an additional 372,285 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of CROWN CASTLE IN/SH SH by 7.3% during the 1st quarter. Jennison Associates LLC now owns 4,904,370 shares of the real estate investment trust’s stock valued at $627,759,000 after acquiring an additional 332,614 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Robert Sean Collins sold 1,200 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total transaction of $150,228.00. Following the sale, the vice president now owns 1,616 shares of the company’s stock, valued at approximately $202,307.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Landis Martin acquired 16,300 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average cost of $127.33 per share, for a total transaction of $2,075,479.00. Following the acquisition, the director now directly owns 130,617 shares in the company, valued at approximately $16,631,462.61. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.
A number of brokerages have recently commented on CCI. Morgan Stanley increased their price objective on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Wells Fargo & Co increased their price objective on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the company an “outperform” rating in a report on Monday, April 15th. JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and raised their target price for the company from $125.00 to $150.00 in a report on Thursday, August 1st. Finally, New Street Research lowered CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 target price on the stock. in a report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $126.70.
CCI traded down $0.39 during midday trading on Tuesday, reaching $141.11. The company’s stock had a trading volume of 38,362 shares, compared to its average volume of 2,220,142. The stock has a market capitalization of $58.60 billion, a PE ratio of 25.49, a P/E/G ratio of 1.78 and a beta of 0.33. The firm has a fifty day simple moving average of $132.97. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.76 and a current ratio of 0.76. CROWN CASTLE IN/SH SH has a twelve month low of $103.21 and a twelve month high of $142.14.
CROWN CASTLE IN/SH SH (NYSE:CCI) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.85). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.42 billion. CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. As a group, sell-side analysts expect that CROWN CASTLE IN/SH SH will post 5.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Thursday, September 12th. CROWN CASTLE IN/SH SH’s payout ratio is presently 82.12%.
CROWN CASTLE IN/SH SH 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.
Featured Story: Purposes and Functions of the Federal Reserve
Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CROWN CASTLE IN/SH SH (NYSE:CCI).
Receive News & Ratings for CROWN CASTLE IN/SH SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CROWN CASTLE IN/SH SH and related companies with MarketBeat.com's FREE daily email newsletter.