Twin Capital Management Inc. Sells 2,520 Shares of CROWN CASTLE IN/SH SH (NYSE:CCI)

Twin Capital Management Inc. trimmed its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,860 shares of the real estate investment trust’s stock after selling 2,520 shares during the quarter. Twin Capital Management Inc.’s holdings in CROWN CASTLE IN/SH SH were worth $4,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Truewealth LLC grew its position in CROWN CASTLE IN/SH SH by 48.0% during the 1st quarter. Truewealth LLC now owns 256 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 83 shares during the last quarter. Strategic Investment Advisors MI grew its position in CROWN CASTLE IN/SH SH by 2.4% during the 1st quarter. Strategic Investment Advisors MI now owns 3,518 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 84 shares during the last quarter. Lindbrook Capital LLC grew its position in CROWN CASTLE IN/SH SH by 11.4% during the 2nd quarter. Lindbrook Capital LLC now owns 821 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 84 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in CROWN CASTLE IN/SH SH by 3.4% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,621 shares of the real estate investment trust’s stock valued at $335,000 after purchasing an additional 85 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its position in CROWN CASTLE IN/SH SH by 4.7% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,972 shares of the real estate investment trust’s stock valued at $257,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

In other news, VP Robert Sean Collins sold 1,200 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $125.19, for a total value of $150,228.00. Following the transaction, the vice president now owns 1,616 shares in the company, valued at approximately $202,307.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Landis Martin acquired 16,300 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average price 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. Company insiders own 0.41% of the company’s stock.

Shares of NYSE CCI traded down $0.11 during trading on Friday, reaching $142.30. 497,783 shares of the company traded hands, compared to its average volume of 2,210,476. The firm has a 50 day simple moving average of $133.41 and a 200-day simple moving average of $127.58. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.99. The stock has a market capitalization of $59.02 billion, a PE ratio of 25.97, a P/E/G ratio of 1.62 and a beta of 0.33. CROWN CASTLE IN/SH SH has a 52-week low of $103.21 and a 52-week high of $142.81.

CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.85). The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations 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 business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. As a group, research analysts predict that CROWN CASTLE IN/SH SH will post 5.64 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $1.125 per share. This represents a $4.50 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Thursday, September 12th. CROWN CASTLE IN/SH SH’s payout ratio is presently 82.12%.

CCI has been the topic of several recent analyst reports. New Street Research downgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price objective on the stock. in a research report on Thursday, June 13th. JPMorgan Chase & Co. raised shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $150.00 in a research report on Thursday, August 1st. Bank of America reissued a “buy” rating and set a $151.00 price objective (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a research report on Wednesday. Finally, Morgan Stanley increased their price objective on shares of CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. 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 stock. CROWN CASTLE IN/SH SH currently has an average rating of “Hold” and an average target price of $128.50.

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

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