Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 0.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,201 shares of the real estate investment trust’s stock after selling 394 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in CROWN CASTLE IN/SH SH were worth $12,303,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Pacifica Partners Inc. bought a new stake in shares of CROWN CASTLE IN/SH SH in the fourth quarter worth about $26,000. John W. Brooker & Co. CPAs purchased a new stake in CROWN CASTLE IN/SH SH in the 1st quarter worth approximately $27,000. Truvestments Capital LLC purchased a new stake in CROWN CASTLE IN/SH SH in the 1st quarter worth approximately $28,000. Sugarloaf Wealth Management LLC bought a new stake in shares of CROWN CASTLE IN/SH SH in the 4th quarter worth approximately $30,000. Finally, Ancora Advisors LLC purchased a new position in shares of CROWN CASTLE IN/SH SH during the fourth quarter valued at approximately $32,000. Institutional investors own 90.46% of the company’s stock.
In related news, EVP Michael Joseph Kavanagh sold 5,000 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $153.86, for a total value of $769,300.00. Following the transaction, the executive vice president now owns 47,767 shares in the company, valued at approximately $7,349,430.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.47% of the stock is owned by insiders.
CCI has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “buy” rating on shares of CROWN CASTLE IN/SH SH in a research note on Thursday, May 7th. New Street Research raised shares of CROWN CASTLE IN/SH SH from a “reduce” rating to a “neutral” rating in a research report on Thursday, March 12th. Wells Fargo & Co lifted their target price on shares of CROWN CASTLE IN/SH SH from $156.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. UBS Group increased their price target on shares of CROWN CASTLE IN/SH SH from $137.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Finally, Morgan Stanley raised their price objective on shares of CROWN CASTLE IN/SH SH from $152.00 to $177.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $156.08.
Shares of NYSE CCI traded up $5.37 on Friday, reaching $156.20. 1,874,020 shares of the company’s stock traded hands, compared to its average volume of 2,021,127. The business’s 50 day simple moving average is $156.81 and its two-hundred day simple moving average is $147.02. 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 price-to-earnings ratio of 81.78, a price-to-earnings-growth ratio of 1.24 and a beta of 0.34. 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 (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.38 earnings per share 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 analysts’ expectations of $1.44 billion. CROWN CASTLE IN/SH SH had a return on equity of 8.39% and a net margin of 15.59%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 EPS. Analysts forecast 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. Stockholders of record on Friday, June 12th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $4.80 annualized dividend and a dividend yield of 3.07%. CROWN CASTLE IN/SH SH’s payout ratio is presently 84.36%.
CROWN CASTLE IN/SH SH 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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