Fulton Bank N. A. Sells 351 Shares of CROWN CASTLE IN/SH SH (NYSE:CCI)

Fulton Bank N. A. cut its stake in CROWN CASTLE IN/SH SH (NYSE:CCI) by 19.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,433 shares of the real estate investment trust’s stock after selling 351 shares during the period. Fulton Bank N. A.’s holdings in CROWN CASTLE IN/SH SH were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alberta Investment Management Corp raised its stake in shares of CROWN CASTLE IN/SH SH by 28.5% in the fourth quarter. Alberta Investment Management Corp now owns 258,600 shares of the real estate investment trust’s stock worth $36,760,000 after acquiring an additional 57,300 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in shares of CROWN CASTLE IN/SH SH by 5.1% in the first quarter. Pictet Asset Management Ltd. now owns 712,999 shares of the real estate investment trust’s stock worth $102,958,000 after acquiring an additional 34,814 shares during the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of CROWN CASTLE IN/SH SH by 11.6% in the first quarter. Peapack Gladstone Financial Corp now owns 16,712 shares of the real estate investment trust’s stock worth $2,413,000 after acquiring an additional 1,731 shares during the last quarter. Sontag Advisory LLC raised its stake in shares of CROWN CASTLE IN/SH SH by 374.6% in the first quarter. Sontag Advisory LLC now owns 6,868 shares of the real estate investment trust’s stock worth $992,000 after acquiring an additional 5,421 shares during the last quarter. Finally, Wintrust Investments LLC grew its position in shares of CROWN CASTLE IN/SH SH by 90.0% during the 1st quarter. Wintrust Investments LLC now owns 3,167 shares of the real estate investment trust’s stock worth $457,000 after buying an additional 1,500 shares during the period. 91.04% of the stock is owned by institutional investors.

NYSE CCI opened at $171.41 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 2.30. The firm’s fifty day moving average price is $166.26 and its two-hundred day moving average price is $154.85. CROWN CASTLE IN/SH SH has a 1 year low of $114.18 and a 1 year high of $180.00. The firm has a market capitalization of $71.48 billion, a P/E ratio of 89.74, a price-to-earnings-growth ratio of 1.41 and a beta of 0.35.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.11). CROWN CASTLE IN/SH SH had a return on equity of 8.39% and a net margin of 15.59%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the company posted $0.44 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. On average, research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.79 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.80%. The ex-dividend date was Thursday, June 11th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is currently 84.36%.

In other news, COO James D. Young sold 6,000 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $168.00, for a total value of $1,008,000.00. Following the transaction, the chief operating officer now directly owns 198,679 shares of the company’s stock, valued at $33,378,072. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert Sean Collins sold 2,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $174.09, for a total transaction of $348,180.00. Following the completion of the transaction, the vice president now directly owns 5,634 shares in the company, valued at $980,823.06. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock worth $2,125,480 over the last three months. Insiders own 0.47% of the company’s stock.

Several equities research analysts have recently commented on the stock. Credit Suisse Group assumed coverage on shares of CROWN CASTLE IN/SH SH in a research report on Tuesday, April 28th. They set a “neutral” rating and a $149.00 price target for the company. Morgan Stanley lifted their price target on shares of CROWN CASTLE IN/SH SH from $177.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Wells Fargo & Co lifted their price target on shares of CROWN CASTLE IN/SH SH from $172.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, June 18th. Royal Bank of Canada reiterated a “buy” rating on shares of CROWN CASTLE IN/SH SH in a research report on Thursday, May 7th. Finally, Oppenheimer upgraded shares of CROWN CASTLE IN/SH SH from a “market perform” rating to an “outperform” rating and set a $175.00 price objective for the company in a report on Friday, May 22nd. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $163.50.

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

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