Parsons Capital Management Inc. RI lifted its position in CROWN CASTLE IN/SH SH (NYSE:CCI) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,964 shares of the real estate investment trust’s stock after acquiring an additional 749 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in CROWN CASTLE IN/SH SH were worth $2,733,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Western Wealth Management LLC grew its position in shares of CROWN CASTLE IN/SH SH by 9.7% in the 1st quarter. Western Wealth Management LLC now owns 3,463 shares of the real estate investment trust’s stock worth $443,000 after acquiring an additional 307 shares in the last quarter. Hunter Associates Investment Management LLC lifted its holdings in shares of CROWN CASTLE IN/SH SH by 40.8% in the 1st quarter. Hunter Associates Investment Management LLC now owns 2,760 shares of the real estate investment trust’s stock worth $353,000 after purchasing an additional 800 shares during the last quarter. Sterling Investment Management Inc. lifted its holdings in shares of CROWN CASTLE IN/SH SH by 7.2% in the 1st quarter. Sterling Investment Management Inc. now owns 23,409 shares of the real estate investment trust’s stock worth $2,996,000 after purchasing an additional 1,582 shares during the last quarter. Vantage Investment Partners LLC bought a new stake in shares of CROWN CASTLE IN/SH SH in the 1st quarter worth approximately $8,392,000. Finally, Ellis Investment Partners LLC bought a new stake in shares of CROWN CASTLE IN/SH SH in the 1st quarter worth approximately $610,000. Institutional investors own 91.28% of the company’s stock.
CROWN CASTLE IN/SH SH stock traded up $2.87 during mid-day trading on Thursday, hitting $141.81. 34,534 shares of the company’s stock traded hands, compared to its average volume of 2,182,189. The company has a 50 day moving average price of $133.21. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $57.97 billion, a P/E ratio of 25.86, a PEG ratio of 1.62 and a beta of 0.33. CROWN CASTLE IN/SH SH has a one year low of $103.21 and a one year high of $142.24.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.85). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. Sell-side analysts forecast that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a yield of 3.17%. The ex-dividend date is Thursday, September 12th. CROWN CASTLE IN/SH SH’s payout ratio is currently 82.12%.
Several brokerages recently issued reports on CCI. Bank of America reissued a “buy” rating and issued a $151.00 price target (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday. New Street Research downgraded CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price target on the stock. in a report on Thursday, June 13th. Morgan Stanley raised their price target 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. Finally, JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $125.00 to $150.00 in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $128.50.
In other CROWN CASTLE IN/SH SH news, VP Robert Sean Collins sold 1,200 shares of CROWN CASTLE IN/SH SH stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total transaction of $150,228.00. Following the sale, the vice president now owns 1,616 shares of the company’s stock, valued at approximately $202,307.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Landis Martin bought 16,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were acquired at an average cost of $127.33 per share, for a total transaction of $2,075,479.00. Following the purchase, the director now directly owns 130,617 shares in the company, valued at $16,631,462.61. The disclosure for this purchase can be found here. 0.41% of the stock is owned by 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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