Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of CROWN CASTLE In/SH SH (NYSE:CCI) by 14.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,002 shares of the real estate investment trust’s stock after buying an additional 19,620 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in CROWN CASTLE In/SH SH were worth $17,368,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. People s United Financial Inc. purchased a new stake in shares of CROWN CASTLE In/SH SH during the second quarter valued at $14,091,000. Kaizen Advisory LLC boosted its stake in shares of CROWN CASTLE In/SH SH by 142.5% during the second quarter. Kaizen Advisory LLC now owns 941 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 553 shares during the period. Sun Life Financial INC boosted its stake 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 purchasing an additional 917 shares during the period. Bbva Compass Bancshares Inc. purchased a new stake in shares of CROWN CASTLE In/SH SH during the third quarter valued at $160,000. Finally, Ninepoint Partners LP purchased a new stake in shares of CROWN CASTLE In/SH SH during the third quarter valued at $204,000. 94.91% of the stock is owned by institutional investors.
In other 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 transaction of $279,315.96. Following the transaction, the director now owns 23,100 shares in the company, valued at $2,632,476. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Langenfeld Cynthia K. Christy acquired 900 shares of the business’s stock in a transaction dated Monday, October 22nd. The shares were bought 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 $2,699,774.56. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
Shares of CROWN CASTLE In/SH SH stock opened at $110.87 on Friday. The stock has a market capitalization of $46.35 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.37 and a beta of 0.35. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.33. CROWN CASTLE In/SH SH has a one year low of $98.85 and a one year high of $114.81.
CROWN CASTLE In/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.06. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate 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 firm’s revenue was up 29.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. On average, sell-side analysts anticipate that CROWN CASTLE In/SH SH will post 5.25 EPS for the current year.
The company also recently announced 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. The ex-dividend date is Thursday, December 13th. This is an increase from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. This represents a $4.50 dividend on an annualized basis and a yield of 4.06%. CROWN CASTLE In/SH SH’s payout ratio is currently 86.60%.
A number of analysts have recently issued reports on CCI shares. Zacks Investment Research raised shares of CROWN CASTLE In/SH SH from a “hold” rating to a “buy” rating and set a $124.00 target price for the company in a research note on Thursday, July 19th. Cowen reissued a “buy” rating and set a $121.00 target price on shares of CROWN CASTLE In/SH SH in a research note on Friday, July 20th. Guggenheim reissued a “buy” rating and set a $120.00 target price on shares of CROWN CASTLE In/SH SH in a research note on Friday, July 20th. Citigroup boosted their target price on shares of CROWN CASTLE In/SH SH from $109.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, July 24th. Finally, Morgan Stanley boosted their target price on shares of CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, August 16th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. CROWN CASTLE In/SH SH currently has a consensus rating of “Buy” and a consensus price target of $117.67.
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CROWN CASTLE In/SH SH Company 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.
Further Reading: Diversification in Investing
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