CROWN CASTLE In/SH SH (CCI) Stake Lowered by First Trust Advisors LP
First Trust Advisors LP cut its holdings in CROWN CASTLE In/SH SH (NYSE:CCI) by 25.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,960 shares of the real estate investment trust’s stock after selling 14,951 shares during the quarter. First Trust Advisors LP’s holdings in CROWN CASTLE In/SH SH were worth $4,632,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Kaizen Advisory LLC increased its position in shares of CROWN CASTLE In/SH SH by 142.5% in the second quarter. Kaizen Advisory LLC now owns 941 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 553 shares in the last quarter. Signaturefd LLC acquired a new stake in shares of CROWN CASTLE In/SH SH in the first quarter worth approximately $134,000. McKinley Carter Wealth Services Inc. acquired a new stake in shares of CROWN CASTLE In/SH SH in the first quarter worth approximately $137,000. TLP Group LLC acquired a new stake in shares of CROWN CASTLE In/SH SH in the first quarter worth approximately $200,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of CROWN CASTLE In/SH SH in the second quarter worth approximately $201,000. Institutional investors and hedge funds own 94.96% of the company’s stock.
A number of brokerages have recently issued reports on CCI. Citigroup lifted their price target on CROWN CASTLE In/SH SH from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 24th. Zacks Investment Research lowered CROWN CASTLE In/SH SH from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Guggenheim reaffirmed a “buy” rating and issued a $120.00 price target on shares of CROWN CASTLE In/SH SH in a research note on Friday, July 20th. Morgan Stanley lifted their price target on CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, August 16th. Finally, Cowen reaffirmed a “buy” rating and issued a $121.00 price target on shares of CROWN CASTLE In/SH SH in a research note on Friday, July 20th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $116.91.
CROWN CASTLE In/SH SH (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 18th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.91). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. CROWN CASTLE In/SH SH had a return on equity of 4.20% and a net margin of 9.72%. The business’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period last year, the firm posted $0.31 EPS. research analysts anticipate that CROWN CASTLE In/SH SH will post 5.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Thursday, September 13th. CROWN CASTLE In/SH SH’s dividend payout ratio (DPR) is currently 86.60%.
In other CROWN CASTLE In/SH SH news, Director Robert E. Garrison II sold 2,451 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was 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 of the company’s stock, valued at $2,632,476. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Landis Martin acquired 6,100 shares of the stock in a transaction on Tuesday, August 7th. The shares were bought at an average cost of $110.14 per share, for a total transaction of $671,854.00. Following the purchase, the director now directly owns 107,822 shares of the company’s stock, valued at approximately $11,875,515.08. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
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.
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