Edgemoor Investment Advisors Inc. Cuts Stake in CROWN CASTLE IN/SH SH (CCI)

Edgemoor Investment Advisors Inc. lessened its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 1.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 126,642 shares of the real estate investment trust’s stock after selling 2,397 shares during the quarter. CROWN CASTLE IN/SH SH makes up about 2.1% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 11th largest position. Edgemoor Investment Advisors Inc.’s holdings in CROWN CASTLE IN/SH SH were worth $16,210,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CCI. Oregon Public Employees Retirement Fund raised its stake in shares of CROWN CASTLE IN/SH SH by 10,630.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,899,104 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 4,853,447 shares during the last quarter. Vanguard Group Inc raised its stake in CROWN CASTLE IN/SH SH by 7.6% in the 3rd quarter. Vanguard Group Inc now owns 53,196,893 shares of the real estate investment trust’s stock valued at $5,922,410,000 after purchasing an additional 3,771,236 shares during the last quarter. Norges Bank acquired a new position in CROWN CASTLE IN/SH SH in the 4th quarter valued at about $347,360,000. Jennison Associates LLC raised its stake in CROWN CASTLE IN/SH SH by 110.6% in the 4th quarter. Jennison Associates LLC now owns 4,571,756 shares of the real estate investment trust’s stock valued at $496,630,000 after purchasing an additional 2,400,421 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in CROWN CASTLE IN/SH SH by 42.8% in the 4th quarter. California Public Employees Retirement System now owns 2,071,955 shares of the real estate investment trust’s stock valued at $225,076,000 after purchasing an additional 621,262 shares during the last quarter. 93.20% of the stock is owned by institutional investors and hedge funds.

CCI opened at $123.49 on Tuesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $52.90 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 1.47 and a beta of 0.40. CROWN CASTLE IN/SH SH has a 12 month low of $99.99 and a 12 month high of $130.60.



CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.93). The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.39 billion. CROWN CASTLE IN/SH SH had a net margin of 13.82% and a return on equity of 6.31%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 EPS. As a group, sell-side analysts forecast that CROWN CASTLE IN/SH SH will post 5.59 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $1.125 dividend. This represents a $4.50 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Thursday, June 13th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.

Several brokerages recently weighed in on CCI. Morgan Stanley boosted their target price on shares of CROWN CASTLE IN/SH SH from $120.00 to $129.00 and gave the company an “overweight” rating in a research note on Monday, March 11th. UBS Group downgraded shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 target price for the company. in a research note on Thursday, April 11th. Bank of America boosted their target price on shares of CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Guggenheim downgraded shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a research note on Friday, April 12th. They noted that the move was a valuation call. Finally, Macquarie downgraded shares of CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $123.25.

In other CROWN CASTLE IN/SH SH news, Director J Landis Martin purchased 18,350 shares of the stock in a transaction on Wednesday, April 24th. The stock was bought at an average price of $123.13 per share, for a total transaction of $2,259,435.50. Following the acquisition, the director now directly owns 120,717 shares of the company’s stock, valued at $14,863,884.21. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of CROWN CASTLE IN/SH SH stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $120.06, for a total value of $300,150.00. Following the completion of the sale, the senior vice president now owns 38,471 shares of the company’s stock, valued at approximately $4,618,828.26. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

WARNING: This report was reported by Dakota Financial News and is the sole property of of Dakota Financial News. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & international trademark & copyright legislation. The legal version of this report can be accessed at https://dakotafinancialnews.com/2019/05/21/edgemoor-investment-advisors-inc-cuts-stake-in-crown-castle-in-sh-sh-cci.html.

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.

Further Reading: What is systematic risk?

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CROWN CASTLE IN/SH SH (NYSE:CCI).

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

Receive News & Ratings for CROWN CASTLE IN/SH SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CROWN CASTLE IN/SH SH and related companies with MarketBeat.com's FREE daily email newsletter.