Mid Atlantic Financial Management Inc. ADV lowered its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 3.2% in the second quarter, Holdings Channel.com reports. The firm owned 2,333 shares of the real estate investment trust’s stock after selling 77 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in CROWN CASTLE IN/SH SH were worth $304,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DNB Asset Management AS boosted its holdings in CROWN CASTLE IN/SH SH by 19.6% in the 2nd quarter. DNB Asset Management AS now owns 78,322 shares of the real estate investment trust’s stock valued at $10,209,000 after purchasing an additional 12,824 shares during the period. Western Wealth Management LLC lifted its holdings in shares of CROWN CASTLE IN/SH SH by 9.7% in the 1st quarter. Western Wealth Management LLC now owns 3,463 shares of the real estate investment trust’s stock valued at $443,000 after buying an additional 307 shares during the period. Hunter Associates Investment Management LLC lifted its holdings in shares of CROWN CASTLE IN/SH SH by 40.8% in the 1st quarter. Hunter Associates Investment Management LLC now owns 2,760 shares of the real estate investment trust’s stock valued at $353,000 after buying an additional 800 shares during the period. Vantage Investment Partners LLC acquired a new stake in shares of CROWN CASTLE IN/SH SH in the 1st quarter valued at approximately $8,392,000. Finally, Eastern Bank lifted its holdings in shares of CROWN CASTLE IN/SH SH by 390.9% in the 2nd quarter. Eastern Bank now owns 82,313 shares of the real estate investment trust’s stock valued at $10,730,000 after buying an additional 65,544 shares during the period. Institutional investors own 91.39% of the company’s stock.
In other news, Director J Landis Martin purchased 16,300 shares of the stock in a transaction on 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 transaction, the director now owns 130,617 shares in the company, valued at $16,631,462.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Sean Collins sold 1,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $143.34, for a total value of $143,340.00. Following the sale, the vice president now directly owns 616 shares of the company’s stock, valued at approximately $88,297.44. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.
Shares of NYSE:CCI opened at $146.22 on Wednesday. The company has a market cap of $60.84 billion, a P/E ratio of 26.68, a P/E/G ratio of 1.67 and a beta of 0.33. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.99. CROWN CASTLE IN/SH SH has a 52 week low of $103.21 and a 52 week high of $148.70. The business has a fifty day simple moving average of $136.45 and a 200-day simple moving average of $129.05.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.85). The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion. CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. CROWN CASTLE IN/SH SH’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. Sell-side analysts expect that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $1.125 per share. This represents a $4.50 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, September 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is presently 82.12%.
CCI has been the subject of several research reports. JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $125.00 to $150.00 in a report on Thursday, August 1st. Morgan Stanley lifted their price objective on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. New Street Research cut CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price objective for the company. in a report on Thursday, June 13th. Finally, Bank of America reaffirmed a “buy” rating and set a $151.00 price objective (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $128.50.
CROWN CASTLE IN/SH SH Company 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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