Klingenstein Fields & Co. LLC decreased its holdings in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 26.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 198,001 shares of the real estate investment trust’s stock after selling 70,834 shares during the quarter. CROWN CASTLE IN/SH SH accounts for about 1.4% of Klingenstein Fields & Co. LLC’s investment portfolio, making the stock its 25th biggest position. Klingenstein Fields & Co. LLC’s holdings in CROWN CASTLE IN/SH SH were worth $25,344,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc grew its stake in CROWN CASTLE IN/SH SH by 7.6% in the third quarter. Vanguard Group Inc now owns 53,196,893 shares of the real estate investment trust’s stock worth $5,922,410,000 after purchasing an additional 3,771,236 shares in the last quarter. BlackRock Inc. grew its stake in CROWN CASTLE IN/SH SH by 0.4% in the fourth quarter. BlackRock Inc. now owns 28,057,717 shares of the real estate investment trust’s stock worth $3,047,911,000 after purchasing an additional 118,392 shares in the last quarter. Magellan Asset Management Ltd grew its stake in CROWN CASTLE IN/SH SH by 0.6% in the fourth quarter. Magellan Asset Management Ltd now owns 12,663,576 shares of the real estate investment trust’s stock worth $1,375,644,000 after purchasing an additional 69,936 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in CROWN CASTLE IN/SH SH by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,123,320 shares of the real estate investment trust’s stock worth $665,173,000 after purchasing an additional 139,365 shares in the last quarter. Finally, Northern Trust Corp grew its stake in CROWN CASTLE IN/SH SH by 2.9% in the fourth quarter. Northern Trust Corp now owns 5,496,865 shares of the real estate investment trust’s stock worth $597,125,000 after purchasing an additional 155,891 shares in the last quarter. 93.20% of the stock is currently owned by hedge funds and other institutional investors.
In other CROWN CASTLE IN/SH SH news, Director J Landis Martin acquired 18,350 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average price of $123.13 per share, for a total transaction of $2,259,435.50. Following the acquisition, the director now owns 120,717 shares in the company, valued at approximately $14,863,884.21. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $120.06, for a total value of $300,150.00. Following the sale, the senior vice president now owns 38,471 shares of the company’s stock, valued at approximately $4,618,828.26. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.
NYSE CCI traded up $1.58 during midday trading on Wednesday, hitting $126.63. 864,158 shares of the company traded hands, compared to its average volume of 1,860,617. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $52.90 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 1.47 and a beta of 0.40. CROWN CASTLE IN/SH SH has a 52 week low of $99.99 and a 52 week high of $130.60.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.93). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.39 billion. CROWN CASTLE IN/SH SH had a net margin of 13.82% and a return on equity of 6.31%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $0.21 EPS. On average, equities analysts predict that CROWN CASTLE IN/SH SH will post 5.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $1.125 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $4.50 annualized dividend and a yield of 3.55%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is presently 82.12%.
CCI has been the topic of several research analyst reports. Morgan Stanley increased their price objective on CROWN CASTLE IN/SH SH from $120.00 to $129.00 and gave the stock an “overweight” rating in a research note on Monday, March 11th. Bank of America increased their price objective on CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Macquarie cut CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 12th. Deutsche Bank cut CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating and set a $121.00 price objective on the stock. in a research note on Monday, March 18th. They noted that the move was a valuation call. Finally, Guggenheim cut CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a research note on Friday, April 12th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $123.25.
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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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