Bessemer Group Inc. Has $179,000 Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

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Bessemer Group Inc. raised its holdings in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 128.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,379 shares of the real estate investment trust’s stock after purchasing an additional 776 shares during the period. Bessemer Group Inc.’s holdings in CROWN CASTLE IN/SH SH were worth $179,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lenox Wealth Management Inc. raised its holdings in shares of CROWN CASTLE IN/SH SH by 2,222.2% in the 1st quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 200 shares in the last quarter. CX Institutional raised its holdings in shares of CROWN CASTLE IN/SH SH by 160.7% in the 1st quarter. CX Institutional now owns 232 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 143 shares in the last quarter. Truewealth LLC raised its holdings in shares of CROWN CASTLE IN/SH SH by 48.0% in the 1st quarter. Truewealth LLC now owns 256 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 83 shares in the last quarter. Braun Bostich & Associates Inc. acquired a new stake in shares of CROWN CASTLE IN/SH SH in the 1st quarter valued at $40,000. Finally, Pittenger & Anderson Inc. raised its stake in CROWN CASTLE IN/SH SH by 250.0% during the 1st quarter. Pittenger & Anderson Inc. now owns 350 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 250 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Robert Sean Collins sold 1,200 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $125.19, for a total value of $150,228.00. Following the completion of the transaction, the vice president now directly owns 1,616 shares in the company, valued at $202,307.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Landis Martin bought 16,300 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average price of $127.33 per share, with a total value of $2,075,479.00. Following the completion of the purchase, the director now directly owns 130,617 shares of the company’s stock, valued at approximately $16,631,462.61. The disclosure for this purchase can be found here. 0.41% of the stock is owned by insiders.

NYSE:CCI opened at $142.41 on Friday. The firm has a 50 day simple moving average of $133.41 and a 200-day simple moving average of $127.58. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $59.02 billion, a PE ratio of 25.99, a P/E/G ratio of 1.62 and a beta of 0.33. CROWN CASTLE IN/SH SH has a 1-year low of $103.21 and a 1-year high of $142.81.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.85). CROWN CASTLE IN/SH SH had a return on equity of 7.00% and a net margin of 14.62%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts expect that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $1.125 per share. The ex-dividend date is Thursday, September 12th. This represents a $4.50 annualized dividend and a yield of 3.16%. CROWN CASTLE IN/SH SH’s dividend payout ratio is currently 82.12%.

Several brokerages recently commented on CCI. Bank of America reiterated a “buy” rating and set a $151.00 price target (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday. JPMorgan Chase & Co. upgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $125.00 to $150.00 in a research note on Thursday, August 1st. Morgan Stanley lifted their price objective on shares of CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, New Street Research downgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 target price on the stock. in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $128.50.

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

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