First Mercantile Trust Co. Reduces Stake in CROWN CASTLE IN/SH SH (NYSE:CCI)

First Mercantile Trust Co. lowered its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 4.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,546 shares of the real estate investment trust’s stock after selling 352 shares during the quarter. First Mercantile Trust Co.’s holdings in CROWN CASTLE IN/SH SH were worth $1,048,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in CROWN CASTLE IN/SH SH during the first quarter valued at approximately $118,000. Cox Capital Mgt LLC lifted its holdings in shares of CROWN CASTLE IN/SH SH by 1.6% in the 2nd quarter. Cox Capital Mgt LLC now owns 8,832 shares of the real estate investment trust’s stock valued at $1,151,000 after buying an additional 140 shares during the period. Anderson Hoagland & Co. lifted its holdings in shares of CROWN CASTLE IN/SH SH by 1.3% in the 2nd quarter. Anderson Hoagland & Co. now owns 30,335 shares of the real estate investment trust’s stock valued at $3,944,000 after buying an additional 382 shares during the period. Winfield Associates Inc. lifted its holdings in shares of CROWN CASTLE IN/SH SH by 3.6% in the 2nd quarter. Winfield Associates Inc. now owns 20,682 shares of the real estate investment trust’s stock valued at $2,696,000 after buying an additional 720 shares during the period. Finally, DNB Asset Management AS lifted its holdings in shares of CROWN CASTLE IN/SH SH by 19.6% in the 2nd quarter. DNB Asset Management AS now owns 78,322 shares of the real estate investment trust’s stock valued at $10,209,000 after buying an additional 12,824 shares during the period. Institutional investors and hedge funds own 91.46% of the company’s stock.

Several analysts have recently commented on the company. ValuEngine cut CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and raised their price target for the company from $125.00 to $150.00 in a report on Thursday, August 1st. SunTrust Banks raised their price target on CROWN CASTLE IN/SH SH from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 18th. UBS Group raised their price target on CROWN CASTLE IN/SH SH from $130.00 to $137.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Bank of America reissued a “buy” rating and issued a $151.00 price target (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $135.58.

NYSE CCI traded down $1.69 during mid-day trading on Thursday, hitting $132.22. The stock had a trading volume of 356,990 shares, compared to its average volume of 1,924,601. CROWN CASTLE IN/SH SH has a 52-week low of $103.21 and a 52-week high of $149.47. The company has a market cap of $55.92 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 1.53 and a beta of 0.28. The company has a 50 day simple moving average of $138.86 and a 200 day simple moving average of $134.89. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 2.05.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. CROWN CASTLE IN/SH SH had a return on equity of 8.07% and a net margin of 16.12%. CROWN CASTLE IN/SH SH’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. As a group, equities analysts anticipate that CROWN CASTLE IN/SH SH will post 5.69 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $1.20 per share. This is an increase from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $4.80 annualized dividend and a yield of 3.63%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is presently 82.12%.

In other news, VP Robert Sean Collins sold 1,000 shares of CROWN CASTLE IN/SH SH stock in a transaction on Friday, August 16th. The stock was sold at an average price of $143.34, for a total value of $143,340.00. Following the completion of the sale, the vice president now owns 616 shares of the company’s stock, valued at $88,297.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Robert Carl Ackerman sold 10,500 shares of CROWN CASTLE IN/SH SH stock in a transaction on Monday, October 21st. The shares were sold at an average price of $143.43, for a total value of $1,506,015.00. Following the completion of the sale, the chief operating officer now directly owns 7,806 shares of the company’s stock, valued at approximately $1,119,614.58. The disclosure for this sale can be found here. Company insiders own 0.41% 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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