IHT Wealth Management LLC acquired a new stake in CROWN CASTLE IN/SH SH (NYSE:CCI) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,006 shares of the real estate investment trust’s stock, valued at approximately $279,000.
Other large investors also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. raised its position in shares of CROWN CASTLE IN/SH SH by 25.0% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 9,550 shares of the real estate investment trust’s stock valued at $1,245,000 after acquiring an additional 1,910 shares during the period. Glen Harbor Capital Management LLC raised its holdings in CROWN CASTLE IN/SH SH by 86.2% in the second quarter. Glen Harbor Capital Management LLC now owns 21,098 shares of the real estate investment trust’s stock worth $2,750,000 after purchasing an additional 9,768 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in CROWN CASTLE IN/SH SH by 46.4% in the second quarter. Candriam Luxembourg S.C.A. now owns 46,993 shares of the real estate investment trust’s stock worth $6,099,000 after purchasing an additional 14,893 shares during the period. Riverhead Capital Management LLC boosted its position in shares of CROWN CASTLE IN/SH SH by 87.9% during the second quarter. Riverhead Capital Management LLC now owns 15,726 shares of the real estate investment trust’s stock worth $2,050,000 after purchasing an additional 7,355 shares in the last quarter. Finally, OneAscent Financial Services LLC bought a new position in shares of CROWN CASTLE IN/SH SH during the second quarter worth $353,000. 91.86% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on CCI. Morgan Stanley upped their price objective on shares of CROWN CASTLE IN/SH SH from $138.00 to $149.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. 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, October 18th. UBS Group lifted their target price on CROWN CASTLE IN/SH SH from $130.00 to $137.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. ValuEngine cut CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Citigroup lowered their price target on CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating for the company in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $135.85.
Shares of NYSE:CCI opened at $130.95 on Tuesday. The firm has a market cap of $55.57 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 1.52 and a beta of 0.25. CROWN CASTLE IN/SH SH has a 12 month low of $103.21 and a 12 month high of $149.47. The company’s fifty day simple moving average is $136.00 and its 200 day simple moving average is $136.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.05.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.09. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. CROWN CASTLE IN/SH SH had a net margin of 16.12% and a return on equity of 8.07%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 EPS. Research analysts expect that CROWN CASTLE IN/SH SH will post 5.69 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $1.20 per share. This is a boost from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Thursday, December 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio is currently 82.12%.
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.
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