CROWN CASTLE In/SH SH (CCI) Holdings Cut by OLD National Bancorp IN

OLD National Bancorp IN cut its holdings in CROWN CASTLE In/SH SH (NYSE:CCI) by 49.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,396 shares of the real estate investment trust’s stock after selling 16,213 shares during the quarter. OLD National Bancorp IN’s holdings in CROWN CASTLE In/SH SH were worth $1,825,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CCI. Kaizen Advisory LLC raised its position in shares of CROWN CASTLE In/SH SH by 142.5% during the second quarter. Kaizen Advisory LLC now owns 941 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 553 shares during the period. Sun Life Financial INC raised its position in shares of CROWN CASTLE In/SH SH by 443.0% during the second quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 917 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of CROWN CASTLE In/SH SH during the second quarter worth approximately $201,000. We Are One Seven LLC acquired a new position in shares of CROWN CASTLE In/SH SH during the third quarter worth approximately $213,000. Finally, Gofen & Glossberg LLC IL acquired a new position in shares of CROWN CASTLE In/SH SH during the third quarter worth approximately $216,000. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Robert E. Garrison II sold 2,451 shares of the company’s 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 completion of the sale, the director now owns 23,100 shares in the company, valued at $2,632,476. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director J Landis Martin purchased 6,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were bought at an average price of $110.14 per share, with a total value of $671,854.00. Following the acquisition, the director now directly owns 107,822 shares of the company’s stock, valued at approximately $11,875,515.08. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.



CCI has been the topic of a number of research reports. Zacks Investment Research raised CROWN CASTLE In/SH SH from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a research report on Thursday, July 19th. Cowen reaffirmed a “buy” rating and set a $121.00 target price on shares of CROWN CASTLE In/SH SH in a research report on Friday, July 20th. Guggenheim reaffirmed a “buy” rating and set a $120.00 target price on shares of CROWN CASTLE In/SH SH in a research report on Friday, July 20th. Citigroup upped their target price on CROWN CASTLE In/SH SH from $109.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 24th. Finally, Morgan Stanley upped their target price on CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, August 16th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. CROWN CASTLE In/SH SH presently has a consensus rating of “Buy” and an average target price of $117.67.

Shares of CROWN CASTLE In/SH SH stock opened at $103.54 on Monday. CROWN CASTLE In/SH SH has a 12-month low of $98.85 and a 12-month high of $114.97. The firm has a market cap of $42.95 billion, a P/E ratio of 21.35, a P/E/G ratio of 1.27 and a beta of 0.35. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.33.

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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.06. CROWN CASTLE In/SH SH had a return on equity of 4.22% and a net margin of 10.07%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. CROWN CASTLE In/SH SH’s revenue was up 29.4% compared to the same quarter last year. On average, equities analysts anticipate that CROWN CASTLE In/SH SH will post 5.25 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be issued a dividend of $1.125 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $4.50 annualized dividend and a yield of 4.35%. This is an increase from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. CROWN CASTLE In/SH SH’s dividend payout ratio is 86.60%.

CROWN CASTLE In/SH SH Profile

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

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