TRUE Private Wealth Advisors increased its holdings in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 10.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,529 shares of the real estate investment trust’s stock after buying an additional 234 shares during the quarter. TRUE Private Wealth Advisors’ holdings in CROWN CASTLE IN/SH SH were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Ropes Wealth Advisors LLC acquired a new stake in CROWN CASTLE IN/SH SH during the 2nd quarter worth about $25,000. Lenox Wealth Management Inc. lifted its position in CROWN CASTLE IN/SH SH by 2,222.2% during the 1st quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 200 shares during the period. Northern Oak Wealth Management Inc. acquired a new stake in CROWN CASTLE IN/SH SH during the 2nd quarter worth about $31,000. Hanson McClain Inc. lifted its position in CROWN CASTLE IN/SH SH by 75.2% during the 2nd quarter. Hanson McClain Inc. now owns 247 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 106 shares during the period. Finally, Truewealth LLC lifted its holdings in shares of CROWN CASTLE IN/SH SH by 48.0% in the 1st quarter. Truewealth LLC now owns 256 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.
In other news, Director J Landis Martin acquired 16,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average cost of $127.33 per share, for a total transaction of $2,075,479.00. Following the purchase, the director now owns 130,617 shares in the company, valued at $16,631,462.61. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert Sean Collins sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total value of $150,228.00. Following the sale, the vice president now owns 1,616 shares of the company’s stock, valued at $202,307.04. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.
CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.85). The business had revenue of $1.48 billion during 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%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. As a group, sell-side analysts expect that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $1.125 dividend. The ex-dividend date 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 82.12%.
Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, May 20th. JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $125.00 to $150.00 in a report on Thursday, August 1st. New Street Research cut CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price objective for the company. in a report on Thursday, June 13th. Finally, Bank of America reissued a “buy” rating and issued a $151.00 price objective (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. CROWN CASTLE IN/SH SH has a consensus rating of “Hold” and an average target price of $128.50.
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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