Gerber Kawasaki Wealth & Investment Management Buys 3,601 Shares of CROWN CASTLE IN/SH SH (CCI)

Gerber Kawasaki Wealth & Investment Management boosted its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 9.8% during the first quarter, HoldingsChannel.com reports. The fund owned 40,263 shares of the real estate investment trust’s stock after acquiring an additional 3,601 shares during the period. CROWN CASTLE IN/SH SH comprises 1.5% of Gerber Kawasaki Wealth & Investment Management’s investment portfolio, making the stock its 23rd largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in CROWN CASTLE IN/SH SH were worth $5,153,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Holistic Financial Partners increased its stake in shares of CROWN CASTLE IN/SH SH by 7.2% in the 1st quarter. Holistic Financial Partners now owns 2,116 shares of the real estate investment trust’s stock valued at $271,000 after purchasing an additional 143 shares during the last quarter. Waratah Capital Advisors Ltd. increased its stake in shares of CROWN CASTLE IN/SH SH by 546.2% in the 1st quarter. Waratah Capital Advisors Ltd. now owns 119,347 shares of the real estate investment trust’s stock valued at $15,276,000 after purchasing an additional 100,878 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of CROWN CASTLE IN/SH SH by 4.2% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 30,983 shares of the real estate investment trust’s stock valued at $3,965,000 after purchasing an additional 1,236 shares during the last quarter. F3Logic LLC bought a new position in shares of CROWN CASTLE IN/SH SH in the 1st quarter valued at $225,000. Finally, Moors & Cabot Inc. bought a new position in shares of CROWN CASTLE IN/SH SH in the 1st quarter valued at $297,000. Hedge funds and other institutional investors own 93.20% of the company’s stock.

CCI has been the topic of several recent analyst reports. Deutsche Bank lowered CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating and set a $121.00 price target on the stock. in a research note on Monday, March 18th. They noted that the move was a valuation call. TheStreet upgraded CROWN CASTLE IN/SH SH from a “c+” rating to a “b” rating in a research note on Wednesday, January 23rd. Wells Fargo & Co lifted their price target on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Macquarie lowered CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 12th. Finally, Guggenheim lowered CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a research note on Friday, April 12th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. CROWN CASTLE IN/SH SH presently has an average rating of “Hold” and an average target price of $122.50.

Shares of NYSE CCI traded up $0.15 during mid-day trading on Thursday, hitting $127.39. 16,075 shares of the stock traded hands, compared to its average volume of 1,858,485. The company has a market cap of $52.81 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 1.46 and a beta of 0.40. CROWN CASTLE IN/SH SH has a twelve month low of $99.99 and a twelve month high of $130.60. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.91.

CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.93). The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.39 billion. CROWN CASTLE IN/SH SH had a return on equity of 6.31% and a net margin of 13.82%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. On average, research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.59 earnings per share for the current fiscal year.

In other CROWN CASTLE IN/SH SH news, Director J Landis Martin acquired 18,350 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were bought at an average cost of $123.13 per share, with a total value of $2,259,435.50. Following the purchase, the director now directly owns 120,717 shares of the company’s stock, valued at $14,863,884.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of the business’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $120.06, for a total value of $300,150.00. Following the completion of the transaction, the senior vice president now directly owns 38,471 shares in the company, valued at $4,618,828.26. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

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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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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

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