Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new stake in CROWN CASTLE In/SH SH (NYSE:CCI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 30,210 shares of the real estate investment trust’s stock, valued at approximately $3,363,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Kaizen Advisory LLC increased its position in shares of CROWN CASTLE In/SH SH by 142.5% in the second quarter. Kaizen Advisory LLC now owns 941 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 553 shares during the period. Sun Life Financial INC increased its position in shares of CROWN CASTLE In/SH SH by 443.0% during the second quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 917 shares during the period. Bbva Compass Bancshares Inc. purchased a new position in shares of CROWN CASTLE In/SH SH during the third quarter valued at about $160,000. Cullen Frost Bankers Inc. purchased a new position in shares of CROWN CASTLE In/SH SH during the second quarter valued at about $201,000. Finally, Ninepoint Partners LP purchased a new position in shares of CROWN CASTLE In/SH SH during the third quarter valued at about $204,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.
Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their price target on shares of CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, August 16th. Zacks Investment Research upgraded shares of CROWN CASTLE In/SH SH from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a research report on Thursday, July 19th. ValuEngine cut shares of CROWN CASTLE In/SH SH from a “buy” rating to a “hold” rating in a research report on Tuesday. Cowen reiterated a “buy” rating and set a $121.00 price target on shares of CROWN CASTLE In/SH SH in a research report on Friday, July 20th. Finally, Guggenheim reiterated a “buy” rating and set a $120.00 price target on shares of CROWN CASTLE In/SH SH in a research report on Friday, July 20th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $117.67.
Shares of NYSE CCI opened at $111.85 on Friday. CROWN CASTLE In/SH SH has a 1 year low of $98.85 and a 1 year high of $114.81. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.91 and a current ratio of 0.96. The stock has a market cap of $46.14 billion, a P/E ratio of 23.06, a P/E/G ratio of 1.37 and a beta of 0.35.
CROWN CASTLE In/SH SH (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 17th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.06. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.35 billion. CROWN CASTLE In/SH SH had a net margin of 10.07% and a return on equity of 4.22%. The business’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. As a group, equities analysts predict that CROWN CASTLE In/SH SH will post 5.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be issued a $1.125 dividend. This represents a $4.50 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, December 13th. This is a boost from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. CROWN CASTLE In/SH SH’s dividend payout ratio is 86.60%.
In other CROWN CASTLE In/SH SH news, Director Robert E. Garrison II sold 2,451 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $113.96, for a total value of $279,315.96. Following the sale, the director now owns 23,100 shares in the company, valued at $2,632,476. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Langenfeld Cynthia K. Christy acquired 900 shares of the business’s stock in a transaction on Monday, October 22nd. The stock was acquired at an average price of $106.19 per share, for a total transaction of $95,571.00. Following the acquisition, the director now owns 25,424 shares of the company’s stock, valued at approximately $2,699,774.56. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by corporate insiders.
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CROWN CASTLE In/SH SH Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 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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