Symons Capital Management Inc. Invests $5.16 Million in CROWN CASTLE IN/SH SH (NYSE:CCI)

Symons Capital Management Inc. purchased a new position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 37,132 shares of the real estate investment trust’s stock, valued at approximately $5,162,000. CROWN CASTLE IN/SH SH accounts for approximately 2.4% of Symons Capital Management Inc.’s investment portfolio, making the stock its 20th biggest position.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of CROWN CASTLE IN/SH SH by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 54,057,163 shares of the real estate investment trust’s stock worth $7,046,352,000 after purchasing an additional 207,370 shares during the period. Magellan Asset Management Ltd grew its stake in shares of CROWN CASTLE IN/SH SH by 0.8% during the 2nd quarter. Magellan Asset Management Ltd now owns 12,357,664 shares of the real estate investment trust’s stock worth $1,610,822,000 after purchasing an additional 99,687 shares during the period. Northern Trust Corp grew its stake in shares of CROWN CASTLE IN/SH SH by 0.9% during the 2nd quarter. Northern Trust Corp now owns 5,629,253 shares of the real estate investment trust’s stock worth $733,773,000 after purchasing an additional 50,909 shares during the period. California Public Employees Retirement System grew its stake in shares of CROWN CASTLE IN/SH SH by 10.9% during the 3rd quarter. California Public Employees Retirement System now owns 3,346,532 shares of the real estate investment trust’s stock worth $465,201,000 after purchasing an additional 329,577 shares during the period. Finally, Bahl & Gaynor Inc. grew its stake in shares of CROWN CASTLE IN/SH SH by 25.5% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,992,828 shares of the real estate investment trust’s stock worth $259,766,000 after purchasing an additional 404,726 shares during the period. 91.46% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on the stock. Citigroup lowered their price objective on shares of CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Bank of America reissued a “buy” rating and issued a $151.00 price objective (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday, August 14th. SunTrust Banks increased their price objective on shares of CROWN CASTLE IN/SH SH from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $150.00 in a research note on Thursday, August 1st. Finally, Guggenheim set a $148.00 price objective on shares of CROWN CASTLE IN/SH SH and gave the company a “hold” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $135.58.

In other CROWN CASTLE IN/SH SH news, VP Robert Sean Collins sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $143.34, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert Carl Ackerman sold 10,500 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $143.43, for a total transaction of $1,506,015.00. Following the sale, the chief operating officer now directly owns 7,806 shares in the company, valued at $1,119,614.58. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Shares of CROWN CASTLE IN/SH SH stock traded down $1.10 during mid-day trading on Friday, hitting $130.81. 2,231,595 shares of the stock were exchanged, compared to its average volume of 1,876,144. CROWN CASTLE IN/SH SH has a twelve month low of $103.21 and a twelve month high of $149.47. The stock has a market capitalization of $54.74 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 1.49 and a beta of 0.28. The company has a 50-day simple moving average of $138.49 and a 200 day simple moving average of $134.97. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 2.05.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.09. CROWN CASTLE IN/SH SH had a net margin of 16.12% and a return on equity of 8.07%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the company earned $0.33 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts forecast that CROWN CASTLE IN/SH SH will post 5.69 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $1.20 per share. This is a boost from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Thursday, December 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is currently 82.12%.

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

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