Panagora Asset Management Inc. reduced its stake in CROWN CASTLE IN/SH SH (NYSE:CCI) by 20.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,449 shares of the real estate investment trust’s stock after selling 2,469 shares during the period. Panagora Asset Management Inc.’s holdings in CROWN CASTLE IN/SH SH were worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in CCI. Comerica Securities Inc. boosted its holdings in shares of CROWN CASTLE IN/SH SH by 4.4% in the 4th quarter. Comerica Securities Inc. now owns 6,920 shares of the real estate investment trust’s stock worth $752,000 after acquiring an additional 293 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of CROWN CASTLE IN/SH SH by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 4,929,209 shares of the real estate investment trust’s stock worth $534,436,000 after acquiring an additional 372,285 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of CROWN CASTLE IN/SH SH by 267.1% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 70,581 shares of the real estate investment trust’s stock worth $9,033,000 after acquiring an additional 51,355 shares in the last quarter. Cornerstone Advisors Inc. boosted its holdings in shares of CROWN CASTLE IN/SH SH by 5.4% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,956 shares of the real estate investment trust’s stock worth $250,000 after acquiring an additional 100 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. acquired a new position in shares of CROWN CASTLE IN/SH SH in the 1st quarter worth approximately $316,000. Institutional investors own 91.62% of the company’s stock.
NYSE:CCI traded down $0.65 during trading hours on Thursday, hitting $138.01. 46,866 shares of the stock were exchanged, compared to its average volume of 1,844,787. The company’s 50 day moving average is $140.81 and its two-hundred day moving average is $130.99. CROWN CASTLE IN/SH SH has a twelve month low of $103.21 and a twelve month high of $149.47. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $57.60 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27.
CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.85). CROWN CASTLE IN/SH SH had a return on equity of 7.00% and a net margin of 14.62%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the company posted $0.36 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts expect that CROWN CASTLE IN/SH SH will post 5.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 yield of 3.26%. The ex-dividend date of this dividend is Thursday, September 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio is 82.12%.
Several research analysts have recently commented on CCI shares. Bank of America reissued a “buy” rating and issued a $151.00 target price (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, August 14th. New Street Research downgraded 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. JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $150.00 in a report on Thursday, August 1st. Citigroup reduced their target price on CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Morgan Stanley boosted their target price on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $129.36.
In related news, Director J Landis Martin purchased 16,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average price of $127.33 per share, with a total value of $2,075,479.00. Following the purchase, the director now directly owns 130,617 shares in the company, valued at approximately $16,631,462.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert Sean Collins sold 1,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $143.34, for a total value of $143,340.00. Following the completion of the transaction, the vice president now directly owns 616 shares in the company, valued at approximately $88,297.44. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.
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.
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