Wrapmanager Inc. Reduces Stock Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

Wrapmanager Inc. decreased its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 48.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,868 shares of the real estate investment trust’s stock after selling 6,371 shares during the quarter. Wrapmanager Inc.’s holdings in CROWN CASTLE IN/SH SH were worth $895,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Ropes Wealth Advisors LLC purchased a new position in shares of CROWN CASTLE IN/SH SH during the second quarter worth about $25,000. Lenox Wealth Management Inc. grew its holdings in shares of CROWN CASTLE IN/SH SH by 2,222.2% during the first quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 200 shares during the last quarter. Northern Oak Wealth Management Inc. purchased a new position in shares of CROWN CASTLE IN/SH SH during the second quarter worth about $31,000. Hanson McClain Inc. grew its holdings in shares of CROWN CASTLE IN/SH SH by 75.2% during the second quarter. Hanson McClain Inc. now owns 247 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 106 shares during the last quarter. Finally, Truewealth LLC grew its holdings in shares of CROWN CASTLE IN/SH SH by 48.0% during the first quarter. Truewealth LLC now owns 256 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 83 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Shares of CCI traded down $0.10 during mid-day trading on Tuesday, hitting $141.40. 795,133 shares of the company’s stock were exchanged, compared to its average volume of 2,220,142. CROWN CASTLE IN/SH SH has a fifty-two week low of $103.21 and a fifty-two week high of $142.14. The stock has a market cap of $58.60 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 1.78 and a beta of 0.33. The company has a 50 day simple moving average of $132.97. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.76 and a quick ratio of 0.76.



CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.85). The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. CROWN CASTLE IN/SH SH had a return on equity of 7.00% and a net margin of 14.62%. CROWN CASTLE IN/SH SH’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. On average, analysts expect that CROWN CASTLE IN/SH SH will post 5.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $1.125 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.50 dividend on an annualized basis and a yield of 3.18%. CROWN CASTLE IN/SH SH’s payout ratio is currently 82.12%.

Several brokerages have recently weighed in on CCI. Morgan Stanley increased their target price on shares of CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Wells Fargo & Co increased their target price on shares of CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. upgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $125.00 to $150.00 in a research note on Thursday, August 1st. Finally, New Street Research downgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 target price for the company. in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $126.70.

In other news, Director J Landis Martin acquired 16,300 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $127.33 per share, for a total transaction of $2,075,479.00. Following the completion of the transaction, the director now directly owns 130,617 shares in the company, valued at $16,631,462.61. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert Sean Collins sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $125.19, for a total transaction of $150,228.00. Following the completion of the sale, the vice president now owns 1,616 shares of the company’s stock, valued at approximately $202,307.04. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

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

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