Vantage Investment Partners LLC purchased a new stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 65,561 shares of the real estate investment trust’s stock, valued at approximately $8,392,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of CCI. Lenox Wealth Management Inc. increased its position in shares of CROWN CASTLE IN/SH SH by 2,222.2% during the first quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 200 shares in the last quarter. CX Institutional boosted its holdings in CROWN CASTLE IN/SH SH by 160.7% in the first quarter. CX Institutional now owns 232 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 143 shares during the last quarter. Capital Investment Advisory Services LLC purchased a new stake in CROWN CASTLE IN/SH SH in the fourth quarter worth approximately $26,000. Truewealth LLC boosted its stake in shares of CROWN CASTLE IN/SH SH by 48.0% during the 1st quarter. Truewealth LLC now owns 256 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 83 shares during the last quarter. Finally, Covington Capital Management purchased a new position in shares of CROWN CASTLE IN/SH SH during the 4th quarter worth $29,000. 92.19% of the stock is owned by hedge funds and other institutional investors.
CCI has been the topic of a number of analyst reports. Bank of America lifted their target price on shares of CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Deutsche Bank downgraded shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating and set a $121.00 price target on the stock. in a report on Monday, March 18th. They noted that the move was a valuation call. Guggenheim downgraded shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a report on Friday, April 12th. They noted that the move was a valuation call. UBS Group downgraded shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 target price on the stock. in a report on Thursday, April 11th. Finally, Macquarie downgraded shares of CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a report on Tuesday, February 12th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. CROWN CASTLE IN/SH SH presently has an average rating of “Hold” and an average target price of $123.25.
NYSE:CCI opened at $135.90 on Wednesday. CROWN CASTLE IN/SH SH has a 1-year low of $99.99 and a 1-year high of $136.39. The firm has a market capitalization of $56.22 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.56 and a beta of 0.34. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.91.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.93). CROWN CASTLE IN/SH SH had a return on equity of 6.31% and a net margin of 13.82%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the company posted $0.21 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts predict that CROWN CASTLE IN/SH SH will post 5.59 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a yield of 3.31%. The ex-dividend date is Thursday, June 13th. CROWN CASTLE IN/SH SH’s payout ratio is currently 82.12%.
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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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