Shell Asset Management Co. decreased its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,011 shares of the real estate investment trust’s stock after selling 1,860 shares during the quarter. Shell Asset Management Co.’s holdings in CROWN CASTLE IN/SH SH were worth $6,066,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Pacifica Partners Inc. acquired a new stake in shares of CROWN CASTLE IN/SH SH during the fourth quarter worth about $26,000. John W. Brooker & Co. CPAs acquired a new position in CROWN CASTLE IN/SH SH in the first quarter valued at approximately $27,000. Truvestments Capital LLC acquired a new position in CROWN CASTLE IN/SH SH in the first quarter valued at approximately $28,000. Sugarloaf Wealth Management LLC acquired a new position in CROWN CASTLE IN/SH SH in the fourth quarter valued at approximately $30,000. Finally, Ancora Advisors LLC acquired a new position in CROWN CASTLE IN/SH SH in the fourth quarter valued at approximately $32,000. 90.46% of the stock is owned by hedge funds and other institutional investors.
Shares of CROWN CASTLE IN/SH SH stock traded up $5.37 on Friday, reaching $156.20. The company’s stock had a trading volume of 1,874,020 shares, compared to its average volume of 2,021,127. 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 52-week low of $114.18 and a 52-week high of $168.75. The company has a market capitalization of $62.86 billion, a P/E ratio of 25.87, a PEG ratio of 1.24 and a beta of 0.34. The stock has a 50-day moving average price of $156.81 and a 200-day moving average price of $147.02.
CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.11). CROWN CASTLE IN/SH SH had a return on equity of 8.39% and a net margin of 15.59%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts forecast that CROWN CASTLE IN/SH SH will post 5.79 earnings per share for the current fiscal year.
The company 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 dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Thursday, June 11th. CROWN CASTLE IN/SH SH’s payout ratio is 84.36%.
In related news, EVP Michael Joseph Kavanagh sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $153.86, for a total transaction of $769,300.00. Following the completion of the sale, the executive vice president now directly owns 47,767 shares in the company, valued at $7,349,430.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by insiders.
A number of research analysts have issued reports on CCI shares. UBS Group boosted their price target on CROWN CASTLE IN/SH SH from $137.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, February 28th. New Street Research raised CROWN CASTLE IN/SH SH from a “reduce” rating to a “neutral” rating in a report on Thursday, March 12th. Morgan Stanley boosted their price target on CROWN CASTLE IN/SH SH from $152.00 to $177.00 and gave the company an “overweight” rating in a report on Monday, April 27th. SunTrust Banks boosted their price target on CROWN CASTLE IN/SH SH from $150.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Royal Bank of Canada restated a “buy” rating on shares of CROWN CASTLE IN/SH SH in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $156.08.
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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