Tredje AP fonden grew its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 19.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,321 shares of the real estate investment trust’s stock after buying an additional 4,994 shares during the period. Tredje AP fonden’s holdings in CROWN CASTLE IN/SH SH were worth $3,705,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Pacifica Partners Inc. bought a new position in CROWN CASTLE IN/SH SH during the 4th quarter worth approximately $26,000. John W. Brooker & Co. CPAs bought a new position in CROWN CASTLE IN/SH SH during the 1st quarter worth approximately $27,000. Truvestments Capital LLC bought a new position in CROWN CASTLE IN/SH SH during the 1st quarter worth approximately $28,000. Sugarloaf Wealth Management LLC bought a new position in CROWN CASTLE IN/SH SH during the 4th quarter worth approximately $30,000. Finally, Ancora Advisors LLC bought a new position in CROWN CASTLE IN/SH SH during the 4th quarter worth approximately $32,000. 90.46% of the stock is currently owned by institutional investors.
In other news, EVP Michael Joseph Kavanagh sold 5,000 shares of CROWN CASTLE IN/SH SH stock in a transaction on Monday, May 4th. The stock was sold at an average price of $153.86, for a total transaction of $769,300.00. Following the transaction, the executive vice president now directly owns 47,767 shares in the company, valued at approximately $7,349,430.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.
Several analysts recently issued reports on the company. Morgan Stanley raised their price target on CROWN CASTLE IN/SH SH from $152.00 to $177.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Royal Bank of Canada reissued a “buy” rating on shares of CROWN CASTLE IN/SH SH in a report on Thursday, May 7th. SunTrust Banks raised their price target on CROWN CASTLE IN/SH SH from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Raymond James reissued a “hold” rating on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, February 12th. Finally, Oppenheimer raised 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 report on Friday. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. CROWN CASTLE IN/SH SH currently has an average rating of “Buy” and a consensus target price of $156.08.
CROWN CASTLE IN/SH SH stock traded up $5.37 during mid-day trading on Friday, hitting $156.20. 1,874,020 shares of the company’s stock traded hands, compared to its average volume of 2,021,127. The firm has a 50 day moving average price of $156.81 and a 200 day moving average price of $147.02. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 2.30. The company has a market cap of $62.86 billion, a PE ratio of 81.78, a price-to-earnings-growth ratio of 1.24 and a beta of 0.34. CROWN CASTLE IN/SH SH has a one year low of $114.18 and a one year high of $168.75.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.11). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. CROWN CASTLE IN/SH SH had a net margin of 15.59% and a return on equity of 8.39%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. On average, analysts expect that CROWN CASTLE IN/SH SH will post 5.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th will be given a dividend of $1.20 per share. 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 dividend payout ratio (DPR) is presently 84.36%.
About CROWN CASTLE IN/SH SH
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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