MainStreet Investment Advisors LLC acquired a new position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,030 shares of the real estate investment trust’s stock, valued at approximately $438,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacifica Partners Inc. acquired a new position in shares of CROWN CASTLE IN/SH SH during the 4th quarter worth about $26,000. John W. Brooker & Co. CPAs acquired a new position in shares of CROWN CASTLE IN/SH SH during the 1st quarter worth about $27,000. Truvestments Capital LLC acquired a new position in shares of CROWN CASTLE IN/SH SH during the 1st quarter worth about $28,000. Sugarloaf Wealth Management LLC acquired a new position in shares of CROWN CASTLE IN/SH SH during the 4th quarter worth about $30,000. Finally, Ancora Advisors LLC acquired a new position in shares of CROWN CASTLE IN/SH SH during the 4th quarter worth about $32,000. 90.46% of the stock is owned by institutional investors and hedge funds.
CCI has been the topic of several research reports. Raymond James restated a “hold” rating on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday, February 12th. Royal Bank of Canada restated a “buy” rating on shares of CROWN CASTLE IN/SH SH in a research note on Thursday, May 7th. Morgan Stanley boosted their price target on CROWN CASTLE IN/SH SH from $152.00 to $177.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. UBS Group boosted their price target on CROWN CASTLE IN/SH SH from $137.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Finally, New Street Research upgraded CROWN CASTLE IN/SH SH from a “reduce” rating to a “neutral” rating in a research note on Thursday, March 12th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $156.08.
Shares of CCI stock traded up $5.37 during trading hours on Friday, hitting $156.20. The company had a trading volume of 1,874,020 shares, compared to its average volume of 2,021,127. CROWN CASTLE IN/SH SH has a 12 month low of $114.18 and a 12 month high of $168.75. The firm has a market capitalization of $62.86 billion, a price-to-earnings ratio of 81.78, a PEG ratio of 1.24 and a beta of 0.34. The firm’s fifty day moving average is $156.81 and its 200 day moving average is $147.02. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.47 and a current ratio of 0.47.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.38 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.11). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. CROWN CASTLE IN/SH SH had a return on equity of 8.39% and a net margin of 15.59%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share. On average, sell-side analysts expect that CROWN CASTLE IN/SH SH will post 5.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Thursday, June 11th. CROWN CASTLE IN/SH SH’s payout ratio is currently 84.36%.
In other news, EVP Michael Joseph Kavanagh sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $153.86, for a total value of $769,300.00. Following the transaction, the executive vice president now directly owns 47,767 shares of the company’s stock, valued at approximately $7,349,430.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is owned by 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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