Ninepoint Partners LP Trims Position in CROWN CASTLE IN/SH SH (CCI)

Ninepoint Partners LP decreased its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 20.4% in the first quarter, Holdings Channel reports. The firm owned 4,361 shares of the real estate investment trust’s stock after selling 1,117 shares during the period. Ninepoint Partners LP’s holdings in CROWN CASTLE IN/SH SH were worth $558,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its holdings in CROWN CASTLE IN/SH SH by 10,630.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,899,104 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 4,853,447 shares in the last quarter. Vanguard Group Inc increased its stake in shares of CROWN CASTLE IN/SH SH by 7.6% in the third quarter. Vanguard Group Inc now owns 53,196,893 shares of the real estate investment trust’s stock worth $5,922,410,000 after purchasing an additional 3,771,236 shares during the period. Norges Bank bought a new position in shares of CROWN CASTLE IN/SH SH in the fourth quarter worth about $347,360,000. Jennison Associates LLC increased its stake in shares of CROWN CASTLE IN/SH SH by 110.6% in the fourth quarter. Jennison Associates LLC now owns 4,571,756 shares of the real estate investment trust’s stock worth $496,630,000 after purchasing an additional 2,400,421 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of CROWN CASTLE IN/SH SH by 42.8% in the fourth quarter. California Public Employees Retirement System now owns 2,071,955 shares of the real estate investment trust’s stock worth $225,076,000 after purchasing an additional 621,262 shares during the period. 93.20% of the stock is owned by hedge funds and other institutional investors.

NYSE CCI traded up $0.29 during trading on Thursday, reaching $127.53. 32,231 shares of the company traded hands, compared to its average volume of 1,858,485. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $52.81 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.46 and a beta of 0.40. CROWN CASTLE IN/SH SH has a 1-year low of $99.99 and a 1-year high of $130.60.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.93). The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.39 billion. CROWN CASTLE IN/SH SH had a net margin of 13.82% and a return on equity of 6.31%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. On average, analysts predict that CROWN CASTLE IN/SH SH will post 5.59 earnings per share for the current year.

A number of research firms have recently commented on CCI. Wells Fargo & Co lifted their price objective on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. UBS Group lowered CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 price target on the stock. in a research note on Thursday, April 11th. TheStreet upgraded CROWN CASTLE IN/SH SH from a “c+” rating to a “b” rating in a research note on Wednesday, January 23rd. Bank of America boosted their price target on 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. Finally, Morgan Stanley boosted their price target on CROWN CASTLE IN/SH SH from $120.00 to $129.00 and gave the company an “overweight” rating in a research note on Monday, March 11th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $122.50.

In related news, Director J Landis Martin acquired 18,350 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were bought at an average cost of $123.13 per share, with a total value of $2,259,435.50. Following the completion of the acquisition, the director now owns 120,717 shares of the company’s stock, valued at $14,863,884.21. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $120.06, for a total value of $300,150.00. Following the sale, the senior vice president now directly owns 38,471 shares in the company, valued at $4,618,828.26. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

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

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