Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in CROWN CASTLE In/SH SH (NYSE:CCI) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,640 shares of the real estate investment trust’s stock after selling 4,520 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CROWN CASTLE In/SH SH were worth $13,208,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Hilton Capital Management LLC boosted its holdings in CROWN CASTLE In/SH SH by 2.2% in the third quarter. Hilton Capital Management LLC now owns 188,659 shares of the real estate investment trust’s stock valued at $21,003,000 after purchasing an additional 4,128 shares during the last quarter. CIBC World Markets Inc. grew its holdings in CROWN CASTLE In/SH SH by 324.7% in the 3rd quarter. CIBC World Markets Inc. now owns 11,106 shares of the real estate investment trust’s stock worth $1,236,000 after buying an additional 8,491 shares in the last quarter. Gratus Capital LLC grew its holdings in CROWN CASTLE In/SH SH by 4.8% in the 3rd quarter. Gratus Capital LLC now owns 55,552 shares of the real estate investment trust’s stock worth $6,185,000 after buying an additional 2,546 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in CROWN CASTLE In/SH SH by 25.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 136,058 shares of the real estate investment trust’s stock worth $15,147,000 after buying an additional 27,411 shares in the last quarter. Finally, American International Group Inc. boosted its stake in CROWN CASTLE In/SH SH by 4.9% during the 3rd quarter. American International Group Inc. now owns 189,319 shares of the real estate investment trust’s stock valued at $21,077,000 after purchasing an additional 8,903 shares in the last quarter. Hedge funds and other institutional investors own 95.29% of the company’s stock.
Several equities research analysts have recently weighed in on the company. ValuEngine lowered CROWN CASTLE In/SH SH from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Morgan Stanley increased their price objective on CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, August 16th. UBS Group set a $120.00 price objective on CROWN CASTLE In/SH SH and gave the stock a “buy” rating in a report on Friday, September 28th. TheStreet lowered CROWN CASTLE In/SH SH from a “b” rating to a “c+” rating in a report on Wednesday, October 17th. Finally, Barclays raised their price target on CROWN CASTLE In/SH SH from $110.00 to $112.00 and gave the company an “equal weight” rating in a research report on Friday, October 19th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $117.67.
In other CROWN CASTLE In/SH SH news, Director Langenfeld Cynthia K. Christy purchased 900 shares of the company’s stock in a transaction dated Monday, October 22nd. The stock was purchased at an average price of $106.19 per share, with a total value of $95,571.00. Following the completion of the purchase, the director now owns 25,424 shares of the company’s stock, valued at $2,699,774.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert E. Garrison II sold 2,451 shares of CROWN CASTLE In/SH SH stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $113.96, for a total transaction of $279,315.96. Following the transaction, the director now directly owns 23,100 shares of the company’s stock, valued at approximately $2,632,476. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
Shares of NYSE:CCI opened at $107.96 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.33. CROWN CASTLE In/SH SH has a one year low of $98.85 and a one year high of $114.81. The stock has a market cap of $44.79 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 1.33 and a beta of 0.35.
CROWN CASTLE In/SH SH (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.06. CROWN CASTLE In/SH SH had a net margin of 10.07% and a return on equity of 4.22%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the business earned $0.21 EPS. CROWN CASTLE In/SH SH’s quarterly revenue was up 29.4% on a year-over-year basis. As a group, equities analysts forecast that CROWN CASTLE In/SH SH will post 5.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be given a dividend of $1.125 per share. This is a positive change from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, December 13th. This represents a $4.50 annualized dividend and a dividend yield of 4.17%. CROWN CASTLE In/SH SH’s dividend payout ratio (DPR) is currently 86.60%.
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About CROWN CASTLE In/SH SH
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 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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