Symons Capital Management Inc. Invests $5.16 Million in CROWN CASTLE IN/SH SH (NYSE:CCI)

Symons Capital Management Inc. purchased a new position in CROWN CASTLE IN/SH SH (NYSE:CCI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 37,132 shares of the real estate investment trust’s stock, valued at approximately $5,162,000. CROWN CASTLE IN/SH SH makes up about 2.4% of Symons Capital Management Inc.’s holdings, making the stock its 20th largest position.

Several other large investors have also bought and sold shares of CCI. California Public Employees Retirement System lifted its stake in shares of CROWN CASTLE IN/SH SH by 22.6% in the second quarter. California Public Employees Retirement System now owns 3,016,955 shares of the real estate investment trust’s stock worth $393,260,000 after buying an additional 556,157 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in shares of CROWN CASTLE IN/SH SH by 25.5% in the second quarter. Bahl & Gaynor Inc. now owns 1,992,828 shares of the real estate investment trust’s stock worth $259,766,000 after buying an additional 404,726 shares in the last quarter. Commerce Bank lifted its stake in shares of CROWN CASTLE IN/SH SH by 1,322.8% in the second quarter. Commerce Bank now owns 262,111 shares of the real estate investment trust’s stock worth $34,166,000 after buying an additional 243,689 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of CROWN CASTLE IN/SH SH by 0.4% in the second quarter. Vanguard Group Inc. now owns 54,057,163 shares of the real estate investment trust’s stock worth $7,046,352,000 after buying an additional 207,370 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new position in shares of CROWN CASTLE IN/SH SH in the third quarter worth about $27,983,000. 91.46% of the stock is currently owned by hedge funds and other institutional investors.

CCI stock traded down $1.10 during trading on Friday, reaching $130.81. 2,231,595 shares of the stock were exchanged, compared to its average volume of 1,876,144. The business has a 50 day moving average price of $138.49 and a 200-day moving average price of $134.97. The firm has a market capitalization of $54.74 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 1.49 and a beta of 0.28. CROWN CASTLE IN/SH SH has a 1 year low of $103.21 and a 1 year high of $149.47. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 2.05.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. CROWN CASTLE IN/SH SH had a net margin of 16.12% and a return on equity of 8.07%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. On average, research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.69 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.67%. This is an increase from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Thursday, December 12th. CROWN CASTLE IN/SH SH’s payout ratio is 82.12%.

Several equities analysts have recently weighed in on the stock. Citigroup decreased their price target on shares of CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. SunTrust Banks lifted their target price on shares of CROWN CASTLE IN/SH SH from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Bank of America reaffirmed a “buy” rating and set a $151.00 target price (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $125.00 to $150.00 in a research note on Thursday, August 1st. Finally, Morgan Stanley lifted their target price on shares of CROWN CASTLE IN/SH SH from $138.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $135.58.

In related news, COO Robert Carl Ackerman sold 10,500 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $143.43, for a total value of $1,506,015.00. Following the completion of the transaction, the chief operating officer now owns 7,806 shares in the company, valued at $1,119,614.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert Sean Collins sold 1,000 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $143.34, for a total transaction of $143,340.00. Following the completion of the transaction, the vice president now owns 616 shares of the company’s stock, valued at approximately $88,297.44. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

About CROWN CASTLE IN/SH SH

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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Institutional Ownership by Quarter for CROWN CASTLE IN/SH SH (NYSE:CCI)

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