Crown Castle (CCI)

[DiscoverGold]

SWS Partners Has $371,000 Holdings in CROWN CASTLE IN/SH SH (NYSE:CCI)
By: THE STOCK OBSERVER | November 28, 2019

SWS Partners lessened its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 14.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,765 shares of the real estate investment trust’s stock after selling 465 shares during the period. SWS Partners’ holdings in CROWN CASTLE IN/SH SH were worth $371,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of CROWN CASTLE IN/SH SH by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 54,057,163 shares of the real estate investment trust’s stock worth $7,046,352,000 after acquiring an additional 207,370 shares during the last quarter. Magellan Asset Management Ltd increased its stake in CROWN CASTLE IN/SH SH by 0.8% in the 2nd quarter. Magellan Asset Management Ltd now owns 12,357,664 shares of the real estate investment trust’s stock valued at $1,610,822,000 after buying an additional 99,687 shares during the last quarter. Northern Trust Corp increased its stake in CROWN CASTLE IN/SH SH by 0.9% in the 2nd quarter. Northern Trust Corp now owns 5,629,253 shares of the real estate investment trust’s stock valued at $733,773,000 after buying an additional 50,909 shares during the last quarter. California Public Employees Retirement System increased its stake in CROWN CASTLE IN/SH SH by 10.9% in the 3rd quarter. California Public Employees Retirement System now owns 3,346,532 shares of the real estate investment trust’s stock valued at $465,201,000 after buying an additional 329,577 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in CROWN CASTLE IN/SH SH by 25.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,992,828 shares of the real estate investment trust’s stock valued at $259,766,000 after buying an additional 404,726 shares during the last quarter. Institutional investors own 91.86% of the company’s stock.

Get CROWN CASTLE IN/SH SH alerts:

CCI traded down $0.63 on Thursday, hitting $133.78. The company’s stock had a trading volume of 2,048,645 shares, compared to its average volume of 2,205,229. The company’s 50 day simple moving average is $136.43 and its 200-day simple moving average is $135.82. The firm has a market cap of $54.63 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 1.49 and a beta of 0.28. 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 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 released its quarterly earnings data 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 the consensus estimate of $1.48 billion. CROWN CASTLE IN/SH SH had a net margin of 16.12% and a return on equity of 8.07%. CROWN CASTLE IN/SH SH’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. Equities analysts predict that CROWN CASTLE IN/SH SH will post 5.69 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is an increase from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a yield of 3.59%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.

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

CCI has been the subject of several analyst reports. Zacks Investment Research upgraded shares of CROWN CASTLE IN/SH SH from a “hold” rating to a “buy” rating and set a $139.00 price objective for the company in a research note on Wednesday. UBS Group raised 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 research note on Friday, October 18th. SunTrust Banks raised their price target on shares of CROWN CASTLE IN/SH SH from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. upgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $125.00 to $150.00 in a research note on Thursday, August 1st. Finally, ValuEngine lowered shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. CROWN CASTLE IN/SH SH has an average rating of “Hold” and an average price target of $136.08.

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.

Read Full Story »»»

DiscoverGold