Shell Asset Management Co. Reduces Stake in CROWN CASTLE IN/SH SH (NYSE:CCI)

Shell Asset Management Co. lowered its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 4.2% during the first quarter, HoldingsChannel reports. The fund owned 42,011 shares of the real estate investment trust’s stock after selling 1,860 shares during the period. Shell Asset Management Co.’s holdings in CROWN CASTLE IN/SH SH were worth $6,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacifica Partners Inc. purchased a new position in shares of CROWN CASTLE IN/SH SH in the 4th quarter valued at about $26,000. John W. Brooker & Co. CPAs purchased a new position in shares of CROWN CASTLE IN/SH SH in the 1st quarter valued at about $27,000. Truvestments Capital LLC purchased a new position in shares of CROWN CASTLE IN/SH SH in the 1st quarter valued at about $28,000. Sugarloaf Wealth Management LLC purchased a new position in shares of CROWN CASTLE IN/SH SH in the 4th quarter valued at about $30,000. Finally, Ancora Advisors LLC purchased a new position in shares of CROWN CASTLE IN/SH SH in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

CROWN CASTLE IN/SH SH stock traded up $5.37 during mid-day trading on Friday, reaching $156.20. 1,874,020 shares of the company were exchanged, compared to its average volume of 2,021,127. CROWN CASTLE IN/SH SH has a twelve month low of $114.18 and a twelve month high of $168.75. The firm’s 50-day simple moving average is $156.81 and its two-hundred day simple moving average is $147.02. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market cap of $62.86 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 1.24 and a beta of 0.34.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the business posted $0.44 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. As a group, equities research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.79 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th will be given a dividend of $1.20 per share. The ex-dividend date is Thursday, June 11th. This represents a $4.80 dividend on an annualized basis and a yield of 3.07%. CROWN CASTLE IN/SH SH’s payout ratio is 84.36%.

A number of research firms have recently commented on CCI. Wells Fargo & Co increased their price objective on CROWN CASTLE IN/SH SH from $156.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Royal Bank of Canada restated a “buy” rating on shares of CROWN CASTLE IN/SH SH in a research note on Thursday, May 7th. UBS Group raised their price target on CROWN CASTLE IN/SH SH from $137.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Raymond James restated a “hold” rating on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday, February 12th. Finally, New Street Research upgraded CROWN CASTLE IN/SH SH from a “reduce” rating to a “neutral” rating in a research note on Thursday, March 12th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. CROWN CASTLE IN/SH SH currently has an average rating of “Buy” and a consensus target price of $156.08.

In other news, EVP Michael Joseph Kavanagh sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $153.86, for a total value of $769,300.00. Following the completion of the sale, the executive vice president now directly owns 47,767 shares of the company’s stock, valued at approximately $7,349,430.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by company insiders.

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.

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

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