SG Americas Securities LLC decreased its position in CROWN CASTLE IN/SH SH (NYSE:CCI) by 54.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,365 shares of the real estate investment trust’s stock after selling 53,206 shares during the period. SG Americas Securities LLC’s holdings in CROWN CASTLE IN/SH SH were worth $5,679,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of CROWN CASTLE IN/SH SH in the 4th quarter worth $347,360,000. Executive Wealth Management LLC acquired a new stake in CROWN CASTLE IN/SH SH during the 4th quarter worth $2,662,000. Front Row Advisors LLC raised its stake in CROWN CASTLE IN/SH SH by 1.1% during the 4th quarter. Front Row Advisors LLC now owns 8,871 shares of the real estate investment trust’s stock worth $964,000 after buying an additional 100 shares during the period. Strs Ohio raised its stake in CROWN CASTLE IN/SH SH by 0.8% during the 4th quarter. Strs Ohio now owns 227,726 shares of the real estate investment trust’s stock worth $24,737,000 after buying an additional 1,715 shares during the period. Finally, Fox Run Management L.L.C. raised its stake in CROWN CASTLE IN/SH SH by 8.4% during the 4th quarter. Fox Run Management L.L.C. now owns 3,065 shares of the real estate investment trust’s stock worth $333,000 after buying an additional 238 shares during the period. 92.27% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. Morgan Stanley lifted their price target 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. Wells Fargo & Co lifted their price target on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. UBS Group cut CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 price objective for the company. in a report on Thursday, April 11th. Bank of America raised their price objective on CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Macquarie cut CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a report on Tuesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. CROWN CASTLE IN/SH SH presently has a consensus rating of “Hold” and an average target price of $123.25.
Shares of NYSE:CCI traded up $0.14 during trading on Friday, reaching $127.83. 1,985,040 shares of the stock were exchanged, compared to its average volume of 1,856,596. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.91. CROWN CASTLE IN/SH SH has a 12 month low of $99.99 and a 12 month high of $130.60. The stock has a market cap of $52.65 billion, a PE ratio of 23.33, a P/E/G ratio of 1.44 and a beta of 0.40.
CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.93). CROWN CASTLE IN/SH SH had a net margin of 13.82% and a return on equity of 6.31%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that CROWN CASTLE IN/SH SH will post 5.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $1.125 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $4.50 dividend on an annualized basis and a dividend yield of 3.52%. CROWN CASTLE IN/SH SH’s payout ratio is 82.12%.
In other CROWN CASTLE IN/SH SH news, VP Robert Sean Collins sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $125.19, for a total transaction of $150,228.00. Following the completion of the transaction, the vice president now directly owns 1,616 shares in the company, valued at $202,307.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J Landis Martin acquired 18,350 shares of the stock in a transaction on Wednesday, April 24th. The shares were purchased at an average price of $123.13 per share, with a total value of $2,259,435.50. Following the completion of the transaction, the director now owns 120,717 shares of the company’s stock, valued at $14,863,884.21. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by insiders.
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About CROWN CASTLE IN/SH SH
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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