Patton Albertson Miller Group LLC Lowers Stock Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

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Patton Albertson Miller Group LLC lessened its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 7.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,180 shares of the real estate investment trust’s stock after selling 187 shares during the period. Patton Albertson Miller Group LLC’s holdings in CROWN CASTLE IN/SH SH were worth $365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CCI. Prospera Financial Services Inc lifted its position in CROWN CASTLE IN/SH SH by 11.9% during the second quarter. Prospera Financial Services Inc now owns 3,733 shares of the real estate investment trust’s stock valued at $621,000 after acquiring an additional 397 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in CROWN CASTLE IN/SH SH by 0.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 562,610 shares of the real estate investment trust’s stock valued at $94,153,000 after acquiring an additional 4,384 shares during the last quarter. Rafferty Asset Management LLC lifted its position in CROWN CASTLE IN/SH SH by 466.0% during the second quarter. Rafferty Asset Management LLC now owns 99,427 shares of the real estate investment trust’s stock valued at $16,639,000 after acquiring an additional 81,859 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in CROWN CASTLE IN/SH SH during the second quarter valued at approximately $305,725,000. Finally, Staley Capital Advisers Inc. purchased a new stake in CROWN CASTLE IN/SH SH during the second quarter valued at approximately $282,000. 90.90% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently commented on CCI. Credit Suisse Group began coverage on shares of CROWN CASTLE IN/SH SH in a research report on Tuesday, April 28th. They set a “neutral” rating and a $149.00 target price for the company. Oppenheimer raised shares of 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, May 22nd. Morgan Stanley upped their price target on shares of CROWN CASTLE IN/SH SH from $177.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Raymond James restated a “hold” rating on shares of CROWN CASTLE IN/SH SH in a research note on Thursday, August 6th. Finally, UBS Group upped their price target on shares of CROWN CASTLE IN/SH SH from $150.00 to $173.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $169.64.

Shares of NYSE:CCI traded up $0.21 during midday trading on Thursday, reaching $162.85. The company’s stock had a trading volume of 46,715 shares, compared to its average volume of 1,852,095. The firm has a market capitalization of $69.66 billion, a PE ratio of 92.22, a P/E/G ratio of 1.38 and a beta of 0.34. CROWN CASTLE IN/SH SH has a twelve month low of $114.18 and a twelve month high of $180.00. The stock has a fifty day moving average of $168.11 and a 200 day moving average of $159.87. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.71.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.09). The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.44 billion. CROWN CASTLE IN/SH SH had a return on equity of 8.29% and a net margin of 14.90%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 EPS. Sell-side analysts anticipate that CROWN CASTLE IN/SH SH will post 5.72 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.95%. CROWN CASTLE IN/SH SH’s payout ratio is currently 84.36%.

In related news, COO James D. Young sold 6,000 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $168.00, for a total transaction of $1,008,000.00. Following the sale, the chief operating officer now owns 198,679 shares in the company, valued at $33,378,072. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robert Sean Collins sold 2,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $164.19, for a total transaction of $328,380.00. Following the sale, the vice president now owns 2,634 shares in the company, valued at approximately $432,476.46. The disclosure for this sale can be found here. Insiders sold 10,000 shares of company stock worth $1,684,560 in the last quarter. Company insiders own 0.47% of the company’s stock.

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

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