Crown Castle (CCI)

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Eastern Bank Boosts Stock Holdings in CROWN CASTLE IN/SH SH (NYSE:CCI)
By: Stock Observer | April 27, 2020

Eastern Bank boosted its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 23.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,974 shares of the real estate investment trust’s stock after acquiring an additional 20,596 shares during the period. Eastern Bank’s holdings in CROWN CASTLE IN/SH SH were worth $15,448,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CCI. Norges Bank bought a new position in CROWN CASTLE IN/SH SH during the fourth quarter valued at $537,278,000. Franklin Resources Inc. lifted its position in CROWN CASTLE IN/SH SH by 129.6% during the fourth quarter. Franklin Resources Inc. now owns 2,311,105 shares of the real estate investment trust’s stock valued at $328,524,000 after purchasing an additional 1,304,388 shares during the last quarter. Janus Henderson Group PLC lifted its position in CROWN CASTLE IN/SH SH by 6.0% during the fourth quarter. Janus Henderson Group PLC now owns 9,422,387 shares of the real estate investment trust’s stock valued at $1,339,368,000 after purchasing an additional 534,010 shares during the last quarter. M&G Investment Management Ltd. bought a new position in CROWN CASTLE IN/SH SH during the fourth quarter valued at $69,195,000. Finally, Duff & Phelps Investment Management Co. lifted its position in CROWN CASTLE IN/SH SH by 44.4% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,439,600 shares of the real estate investment trust’s stock valued at $204,639,000 after purchasing an additional 442,494 shares during the last quarter. 91.62% of the stock is owned by institutional investors.

NYSE CCI traded up $2.19 during trading on Monday, reaching $163.80. 1,620,772 shares of the company’s stock traded hands, compared to its average volume of 2,297,498. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $67.35 billion, a price-to-earnings ratio of 82.90, a price-to-earnings-growth ratio of 1.78 and a beta of 0.27. The company’s 50 day simple moving average is $150.34 and its two-hundred day simple moving average is $144.74. CROWN CASTLE IN/SH SH has a 12-month low of $114.18 and a 12-month high of $168.75.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05). The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.48 billion. CROWN CASTLE IN/SH SH had a net margin of 16.01% and a return on equity of 8.30%. During the same period last year, the business posted $0.44 EPS. Research analysts expect that CROWN CASTLE IN/SH SH will post 5.86 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, March 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 84.36%.

CCI has been the subject of several research reports. Citigroup increased their price objective on shares of CROWN CASTLE IN/SH SH from $147.00 to $176.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Morgan Stanley raised their target price on shares of CROWN CASTLE IN/SH SH from $152.00 to $177.00 and gave the stock an “overweight” rating in a report on Monday. Barclays assumed coverage on shares of CROWN CASTLE IN/SH SH in a report on Thursday, January 16th. They issued an “overweight” rating for the company. SunTrust Banks raised their target price on shares of CROWN CASTLE IN/SH SH from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Wells Fargo & Co raised their price target on shares of CROWN CASTLE IN/SH SH from $156.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $154.90.

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