Wedbush Securities Inc. lessened its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 10.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,742 shares of the real estate investment trust’s stock after selling 1,318 shares during the quarter. Wedbush Securities Inc.’s holdings in CROWN CASTLE IN/SH SH were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Ropes Wealth Advisors LLC purchased a new stake in CROWN CASTLE IN/SH SH during the 2nd quarter worth about $25,000. Lenox Wealth Management Inc. increased its position in CROWN CASTLE IN/SH SH by 2,222.2% during the 1st quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 200 shares in the last quarter. Northern Oak Wealth Management Inc. purchased a new stake in CROWN CASTLE IN/SH SH during the 2nd quarter worth about $31,000. Hanson McClain Inc. increased its position in CROWN CASTLE IN/SH SH by 75.2% during the 2nd quarter. Hanson McClain Inc. now owns 247 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 106 shares in the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new stake in CROWN CASTLE IN/SH SH during the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.
In related news, Director J Landis Martin purchased 16,300 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average cost of $127.33 per share, with a total value of $2,075,479.00. Following the transaction, the director now owns 130,617 shares of the company’s stock, valued at approximately $16,631,462.61. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert Sean Collins sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total value of $150,228.00. Following the transaction, the vice president now directly owns 1,616 shares in the company, valued at $202,307.04. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.
CCI has been the subject of several recent analyst reports. Morgan Stanley lifted their price target 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. JPMorgan Chase & Co. upgraded CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $150.00 in a report on Thursday, August 1st. Bank of America lifted their price target on CROWN CASTLE IN/SH SH from $133.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday. Finally, New Street Research cut CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price target for the company. in a report on Thursday, June 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. CROWN CASTLE IN/SH SH currently has a consensus rating of “Hold” and a consensus target price of $128.50.
CROWN CASTLE IN/SH SH stock traded down $1.50 during midday trading on Wednesday, hitting $140.45. 27,668 shares of the company were exchanged, compared to its average volume of 1,891,214. The stock has a fifty day simple moving average of $133.09. The company has a market cap of $58.64 billion, a P/E ratio of 25.67, a PEG ratio of 1.78 and a beta of 0.33. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.99. CROWN CASTLE IN/SH SH has a fifty-two week low of $103.21 and a fifty-two week high of $142.24.
CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.85). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. CROWN CASTLE IN/SH SH had a return on equity of 7.00% and a net margin of 14.62%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. On average, sell-side analysts predict that CROWN CASTLE IN/SH SH will post 5.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a yield of 3.20%. The ex-dividend date is Thursday, September 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is presently 82.12%.
CROWN CASTLE IN/SH SH Company 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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