Argent Trust Co increased its stake in CROWN CASTLE IN/SH SH (NYSE:CCI) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,690 shares of the real estate investment trust’s stock after purchasing an additional 604 shares during the quarter. Argent Trust Co’s holdings in CROWN CASTLE IN/SH SH were worth $1,110,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position in CROWN CASTLE IN/SH SH by 31.8% in the fourth quarter. Acadian Asset Management LLC now owns 7,907 shares of the real estate investment trust’s stock worth $1,124,000 after buying an additional 1,908 shares in the last quarter. Great Lakes Advisors LLC grew its stake in shares of CROWN CASTLE IN/SH SH by 12.6% during the 4th quarter. Great Lakes Advisors LLC now owns 2,281 shares of the real estate investment trust’s stock valued at $324,000 after acquiring an additional 256 shares during the period. Magellan Asset Management Ltd increased its holdings in CROWN CASTLE IN/SH SH by 1.7% in the 4th quarter. Magellan Asset Management Ltd now owns 12,820,052 shares of the real estate investment trust’s stock worth $1,822,370,000 after acquiring an additional 213,426 shares in the last quarter. First American Bank bought a new stake in CROWN CASTLE IN/SH SH during the 4th quarter worth approximately $4,488,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in CROWN CASTLE IN/SH SH by 394.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 7,013 shares of the real estate investment trust’s stock worth $997,000 after acquiring an additional 5,595 shares during the period. Institutional investors own 90.46% of the company’s stock.
In other CROWN CASTLE IN/SH SH news, EVP Michael Joseph Kavanagh sold 5,000 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $153.86, for a total transaction of $769,300.00. Following the transaction, the executive vice president now owns 47,767 shares in the company, valued at $7,349,430.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by insiders.
A number of analysts have recently issued reports on CCI shares. Wells Fargo & Co increased their price objective on shares of CROWN CASTLE IN/SH SH from $156.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Citigroup increased their price target on CROWN CASTLE IN/SH SH from $147.00 to $176.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Credit Suisse Group started coverage on CROWN CASTLE IN/SH SH in a research report on Tuesday, April 28th. They issued a “neutral” rating and a $149.00 price objective on the stock. Oppenheimer upgraded CROWN CASTLE IN/SH SH from a “market perform” rating to an “outperform” rating and set a $175.00 target price for the company in a research report on Friday. Finally, Morgan Stanley upped their price target on CROWN CASTLE IN/SH SH from $152.00 to $177.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $156.08.
CCI traded up $5.37 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. The business’s fifty day simple moving average is $156.81 and its 200 day simple moving average is $147.02. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 2.30. CROWN CASTLE IN/SH SH has a 12-month low of $114.18 and a 12-month high of $168.75. The company has a market cap of $62.86 billion, a PE ratio of 81.78, a PEG ratio of 1.24 and a beta of 0.34.
CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.11). The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.44 billion. CROWN CASTLE IN/SH SH had a net margin of 15.59% and a return on equity of 8.39%. CROWN CASTLE IN/SH SH’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 earnings per share. On average, analysts anticipate that CROWN CASTLE IN/SH SH will post 5.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 12th will be given a $1.20 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $4.80 dividend on an annualized basis and a yield of 3.07%. CROWN CASTLE IN/SH SH’s dividend payout ratio is presently 84.36%.
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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