Profund Advisors LLC Boosts Stock Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

Profund Advisors LLC grew its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 19.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,504 shares of the real estate investment trust’s stock after acquiring an additional 5,342 shares during the period. Profund Advisors LLC’s holdings in CROWN CASTLE IN/SH SH were worth $4,367,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Magellan Asset Management Ltd raised its position in shares of CROWN CASTLE IN/SH SH by 0.8% in the second quarter. Magellan Asset Management Ltd now owns 12,357,664 shares of the real estate investment trust’s stock worth $1,610,822,000 after buying an additional 99,687 shares in the last quarter. Northern Trust Corp raised its position in shares of CROWN CASTLE IN/SH SH by 0.9% in the second quarter. Northern Trust Corp now owns 5,629,253 shares of the real estate investment trust’s stock worth $733,773,000 after buying an additional 50,909 shares in the last quarter. Geode Capital Management LLC raised its position in shares of CROWN CASTLE IN/SH SH by 8.2% in the fourth quarter. Geode Capital Management LLC now owns 4,929,209 shares of the real estate investment trust’s stock worth $534,436,000 after buying an additional 372,285 shares in the last quarter. Jennison Associates LLC raised its position in shares of CROWN CASTLE IN/SH SH by 7.3% in the first quarter. Jennison Associates LLC now owns 4,904,370 shares of the real estate investment trust’s stock worth $627,759,000 after buying an additional 332,614 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its position in shares of CROWN CASTLE IN/SH SH by 31.4% in the first quarter. Commonwealth Bank of Australia now owns 2,174,349 shares of the real estate investment trust’s stock worth $278,303,000 after buying an additional 519,210 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Shares of NYSE:CCI traded down $2.42 on Friday, reaching $136.39. 106,476 shares of the company traded hands, compared to its average volume of 1,374,506. The business’s 50-day simple moving average is $140.81 and its 200 day simple moving average is $130.99. CROWN CASTLE IN/SH SH has a 52 week low of $103.21 and a 52 week high of $149.47. The stock has a market capitalization of $57.71 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 1.59 and a beta of 0.27. 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 (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.85). CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the business posted $0.36 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that CROWN CASTLE IN/SH SH will post 5.64 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $1.125 dividend. The ex-dividend date is Thursday, September 12th. This represents a $4.50 annualized dividend and a dividend yield of 3.30%. CROWN CASTLE IN/SH SH’s payout ratio is presently 82.12%.

A number of equities research analysts recently issued reports on CCI shares. Bank of America reiterated 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 report on Wednesday, August 14th. Citigroup reduced their target price on CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating on the stock in a research note on Monday. Morgan Stanley increased their target price on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. New Street Research cut CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 target price on the stock. in a research note on Thursday, June 13th. Finally, JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and increased their target price for the company from $125.00 to $150.00 in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. CROWN CASTLE IN/SH SH presently has an average rating of “Hold” and a consensus price target of $129.36.

In related news, VP Robert Sean Collins sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $143.34, for a total value of $143,340.00. Following the sale, the vice president now directly owns 616 shares of the company’s stock, valued at $88,297.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Landis Martin bought 16,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average cost of $127.33 per share, for a total transaction of $2,075,479.00. Following the completion of the purchase, the director now directly owns 130,617 shares of the company’s stock, valued at $16,631,462.61. The disclosure for this purchase can be found here. 0.41% of the stock is owned by company insiders.

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

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