Tredje AP fonden boosted its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 19.7% during the 1st quarter, HoldingsChannel reports. The fund owned 30,321 shares of the real estate investment trust’s stock after buying an additional 4,994 shares during the quarter. Tredje AP fonden’s holdings in CROWN CASTLE IN/SH SH were worth $3,705,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of CCI. Pacifica Partners Inc. bought a new position in CROWN CASTLE IN/SH SH during the fourth quarter valued at about $26,000. John W. Brooker & Co. CPAs bought a new position in CROWN CASTLE IN/SH SH during the first quarter valued at about $27,000. Truvestments Capital LLC bought a new position in CROWN CASTLE IN/SH SH during the first quarter valued at about $28,000. Sugarloaf Wealth Management LLC bought a new position in CROWN CASTLE IN/SH SH during the fourth quarter valued at about $30,000. Finally, Ancora Advisors LLC bought a new position in CROWN CASTLE IN/SH SH during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.
Several equities analysts recently issued reports on the company. Royal Bank of Canada restated a “buy” rating on shares of CROWN CASTLE IN/SH SH in a research note on Thursday, May 7th. Credit Suisse Group assumed coverage on CROWN CASTLE IN/SH SH in a research note on Tuesday, April 28th. They set a “neutral” rating and a $149.00 price target on the stock. Oppenheimer upgraded CROWN CASTLE IN/SH SH from a “market perform” rating to an “outperform” rating and set a $175.00 price target on the stock in a research note on Friday. 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. Finally, Morgan Stanley upped their price objective on CROWN CASTLE IN/SH SH from $152.00 to $177.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. CROWN CASTLE IN/SH SH has an average rating of “Buy” and an average target price of $156.08.
Shares of CCI traded up $5.37 on Friday, hitting $156.20. The company’s stock had a trading volume of 1,874,020 shares, compared to its average volume of 2,021,127. The company has a market capitalization of $62.86 billion, a PE ratio of 81.78, a PEG ratio of 1.24 and a beta of 0.34. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.47 and a quick ratio of 0.47. CROWN CASTLE IN/SH SH has a fifty-two week low of $114.18 and a fifty-two week high of $168.75. The company has a 50 day moving average price of $156.81 and a 200 day moving average price of $147.02.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.38 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.11). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. CROWN CASTLE IN/SH SH had a return on equity of 8.39% and a net margin of 15.59%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share. On average, equities analysts forecast that CROWN CASTLE IN/SH SH will post 5.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Thursday, June 11th. CROWN CASTLE IN/SH SH’s payout ratio is currently 84.36%.
In other news, EVP Michael Joseph Kavanagh sold 5,000 shares of the business’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 transaction, the executive vice president now directly owns 47,767 shares of the company’s stock, valued at approximately $7,349,430.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is owned by insiders.
CROWN CASTLE IN/SH SH 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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