Crown Castle (CCI)

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California State Teachers Retirement System Boosts Stock Position in CROWN CASTLE IN/SH SH (NYSE:CCI)
By: THE STOCK OBSERVER | November 27, 2019

California State Teachers Retirement System grew its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 703,360 shares of the real estate investment trust’s stock after acquiring an additional 8,298 shares during the period. California State Teachers Retirement System’s holdings in CROWN CASTLE IN/SH SH were worth $97,774,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its holdings in shares of CROWN CASTLE IN/SH SH by 0.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 17,780 shares of the real estate investment trust’s stock worth $2,472,000 after purchasing an additional 80 shares during the period. CX Institutional increased its holdings in shares of CROWN CASTLE IN/SH SH by 34.3% in the third quarter. CX Institutional now owns 317 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 81 shares during the period. Lindbrook Capital LLC increased its holdings in shares of CROWN CASTLE IN/SH SH by 11.4% in the second quarter. Lindbrook Capital LLC now owns 821 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 84 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of CROWN CASTLE IN/SH SH by 4.7% in the second quarter. Sunbelt Securities Inc. now owns 1,972 shares of the real estate investment trust’s stock worth $257,000 after purchasing an additional 88 shares during the period. Finally, Cornerstone Advisors Inc. increased its holdings in shares of CROWN CASTLE IN/SH SH by 4.6% in the second quarter. Cornerstone Advisors Inc. now owns 2,045 shares of the real estate investment trust’s stock worth $267,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 91.86% of the company’s stock.

In other news, COO Robert Carl Ackerman sold 10,500 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $143.43, for a total transaction of $1,506,015.00. Following the transaction, the chief operating officer now directly owns 7,806 shares of the company’s stock, valued at $1,119,614.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Landis Martin acquired 1,000 shares of CROWN CASTLE IN/SH SH stock in a transaction dated Tuesday, November 12th. The shares were bought at an average cost of $130.62 per share, for a total transaction of $130,620.00. Following the completion of the purchase, the director now directly owns 131,617 shares of the company’s stock, valued at approximately $17,191,812.54. The disclosure for this purchase can be found here. 0.41% of the stock is owned by corporate insiders.

Several research analysts have recently weighed in on CCI shares. JPMorgan Chase & Co. raised shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $125.00 to $150.00 in a report on Thursday, August 1st. Guggenheim set a $148.00 price target on shares of CROWN CASTLE IN/SH SH and gave the stock a “hold” rating in a report on Thursday, September 12th. UBS Group upped their price target on shares of 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. Citigroup decreased their price target on shares of 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. Finally, ValuEngine cut shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $136.08.

CCI traded down $0.45 during trading on Wednesday, reaching $133.96. The stock had a trading volume of 620,485 shares, compared to its average volume of 2,165,082. The stock has a market cap of $55.88 billion, a PE ratio of 24.45, a PEG ratio of 1.50 and a beta of 0.28. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.72 and a current ratio of 0.72. CROWN CASTLE IN/SH SH has a one year low of $103.21 and a one year high of $149.47. The business has a 50-day moving average of $136.51 and a 200-day moving average of $135.77.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.09. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $0.33 earnings per share. Equities research analysts forecast that CROWN CASTLE IN/SH SH will post 5.69 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Thursday, December 12th. This is a boost from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. CROWN CASTLE IN/SH SH’s dividend payout ratio is currently 82.12%.

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