Waratah Capital Advisors Ltd. decreased its holdings in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 59.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,922 shares of the real estate investment trust’s stock after selling 148,096 shares during the quarter. CROWN CASTLE IN/SH SH makes up approximately 1.6% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 20th biggest holding. Waratah Capital Advisors Ltd.’s holdings in CROWN CASTLE IN/SH SH were worth $14,029,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. boosted its stake in CROWN CASTLE IN/SH SH by 25.0% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 9,550 shares of the real estate investment trust’s stock valued at $1,245,000 after purchasing an additional 1,910 shares during the last quarter. Glen Harbor Capital Management LLC raised its holdings in shares of CROWN CASTLE IN/SH SH by 86.2% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 21,098 shares of the real estate investment trust’s stock valued at $2,750,000 after purchasing an additional 9,768 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of CROWN CASTLE IN/SH SH by 46.4% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 46,993 shares of the real estate investment trust’s stock worth $6,099,000 after purchasing an additional 14,893 shares during the period. Riverhead Capital Management LLC lifted its position in shares of CROWN CASTLE IN/SH SH by 87.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 15,726 shares of the real estate investment trust’s stock worth $2,050,000 after purchasing an additional 7,355 shares during the period. Finally, OneAscent Financial Services LLC purchased a new stake in shares of CROWN CASTLE IN/SH SH in the 2nd quarter worth approximately $353,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.
Shares of CROWN CASTLE IN/SH SH stock traded up $2.90 during trading on Tuesday, reaching $133.85. The company’s stock had a trading volume of 46,508 shares, compared to its average volume of 2,196,096. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.05. The company has a market cap of $55.57 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.52 and a beta of 0.25. 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 50-day simple moving average of $136.00 and a two-hundred day simple moving average of $136.00.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.09. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. CROWN CASTLE IN/SH SH had a return on equity of 8.07% and a net margin of 16.12%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. As a group, analysts anticipate that CROWN CASTLE IN/SH SH will post 5.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.59%. This is a boost from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. The ex-dividend date is Thursday, December 12th. CROWN CASTLE IN/SH SH’s payout ratio is presently 82.12%.
CCI has been the subject of a number of recent research reports. Bank of America reissued a “buy” rating and issued a $151.00 price objective (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday, August 14th. SunTrust Banks boosted 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 report on Friday, October 18th. Guggenheim set a $148.00 target price on shares of CROWN CASTLE IN/SH SH and gave the stock a “hold” rating in a report on Thursday, September 12th. Zacks Investment Research raised shares of CROWN CASTLE IN/SH SH from a “hold” rating to a “buy” rating and set a $139.00 price target for the company in a research report on Wednesday, November 27th. Finally, Morgan Stanley raised their price target on shares of CROWN CASTLE IN/SH SH from $138.00 to $149.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. CROWN CASTLE IN/SH SH has an average rating of “Hold” and a consensus target price of $135.85.
In other news, COO Robert Carl Ackerman sold 10,500 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was 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 of the company’s stock, valued at approximately $1,119,614.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director J Landis Martin bought 1,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was bought at an average price of $130.62 per share, for a total transaction of $130,620.00. Following the purchase, the director now directly owns 131,617 shares of the company’s stock, valued at $17,191,812.54. The disclosure for this purchase can be found here. 0.41% of the stock is 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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