Stephens Inc. AR Sells 28,071 Shares of CROWN CASTLE IN/SH SH (NYSE:CCI)

Stephens Inc. AR cut its holdings in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 29.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,059 shares of the real estate investment trust’s stock after selling 28,071 shares during the quarter. Stephens Inc. AR’s holdings in CROWN CASTLE IN/SH SH were worth $9,183,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in CROWN CASTLE IN/SH SH by 0.4% during the second quarter. Vanguard Group Inc. now owns 54,057,163 shares of the real estate investment trust’s stock valued at $7,046,352,000 after acquiring an additional 207,370 shares during the period. Magellan Asset Management Ltd increased its holdings in shares of CROWN CASTLE IN/SH SH by 0.8% in the second quarter. Magellan Asset Management Ltd now owns 12,357,664 shares of the real estate investment trust’s stock worth $1,610,822,000 after purchasing an additional 99,687 shares during the last quarter. Northern Trust Corp increased its holdings in shares of CROWN CASTLE IN/SH SH by 0.9% in the second quarter. Northern Trust Corp now owns 5,629,253 shares of the real estate investment trust’s stock worth $733,773,000 after purchasing an additional 50,909 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of CROWN CASTLE IN/SH SH by 22.6% in the second quarter. California Public Employees Retirement System now owns 3,016,955 shares of the real estate investment trust’s stock worth $393,260,000 after purchasing an additional 556,157 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its holdings in shares of CROWN CASTLE IN/SH SH by 25.5% in the second quarter. Bahl & Gaynor Inc. now owns 1,992,828 shares of the real estate investment trust’s stock worth $259,766,000 after purchasing an additional 404,726 shares during the last quarter. 91.50% of the stock is currently owned by institutional investors and hedge funds.

In other CROWN CASTLE IN/SH SH news, VP Robert Sean Collins sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $143.34, for a total transaction of $143,340.00. Following the completion of the transaction, the vice president now owns 616 shares in the company, valued at $88,297.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Landis Martin bought 16,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were acquired at an average price of $127.33 per share, with a total value of $2,075,479.00. Following the transaction, the director now directly owns 130,617 shares of the company’s stock, valued at $16,631,462.61. The disclosure for this purchase can be found here. 0.41% of the stock is owned by insiders.

CCI has been the topic of several research reports. Citigroup reduced their target price on CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Guggenheim set a $148.00 target price on CROWN CASTLE IN/SH SH and gave the stock a “hold” rating in a report on Thursday, September 12th. SunTrust Banks lifted their target price on CROWN CASTLE IN/SH SH from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $125.00 to $150.00 in a report on Thursday, August 1st. Finally, ValuEngine cut CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $135.58.

CCI opened at $142.35 on Monday. The firm has a market cap of $58.03 billion, a P/E ratio of 25.98, a P/E/G ratio of 1.60 and a beta of 0.27. CROWN CASTLE IN/SH SH has a 12 month low of $103.21 and a 12 month high of $149.47. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 2.05. The stock has a 50-day moving average of $140.35 and a 200 day moving average of $133.81.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.09. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. CROWN CASTLE IN/SH SH had a return on equity of 8.07% and a net margin of 16.12%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. On average, research analysts forecast that CROWN CASTLE IN/SH SH will post 5.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. CROWN CASTLE IN/SH SH’s payout ratio is 82.12%.

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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