Wealthfront Advisers LLC Purchases 796 Shares of CROWN CASTLE IN/SH SH (NYSE:CCI)
Wealthfront Advisers LLC increased its position in CROWN CASTLE IN/SH SH (NYSE:CCI) by 4.7% in the first quarter, Holdings Channel reports. The institutional investor owned 17,881 shares of the real estate investment trust’s stock after buying an additional 796 shares during the quarter. Wealthfront Advisers LLC’s holdings in CROWN CASTLE IN/SH SH were worth $2,289,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in CCI. Capital Investment Advisory Services LLC purchased a new stake in CROWN CASTLE IN/SH SH in the fourth quarter worth approximately $26,000. Lenox Wealth Management Inc. boosted its position in shares of CROWN CASTLE IN/SH SH by 2,222.2% during the first quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 200 shares during the last quarter. Covington Capital Management purchased a new stake in shares of CROWN CASTLE IN/SH SH during the fourth quarter valued at $29,000. CX Institutional boosted its position in CROWN CASTLE IN/SH SH by 160.7% in the first quarter. CX Institutional now owns 232 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 143 shares during the last quarter. Finally, Athena Capital Advisors LLC bought a new position in shares of CROWN CASTLE IN/SH SH in the fourth quarter worth about $33,000. Institutional investors own 92.19% of the company’s stock.
CCI traded down $0.73 on Wednesday, hitting $135.17. 75,536 shares of the company’s stock were exchanged, compared to its average volume of 1,869,678. The firm has a market cap of $56.22 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 1.56 and a beta of 0.34. CROWN CASTLE IN/SH SH has a twelve month low of $99.99 and a twelve month high of $136.39. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.91.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $1.125 dividend. This represents a $4.50 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Thursday, June 13th. CROWN CASTLE IN/SH SH’s dividend payout ratio is 82.12%.
In other news, VP Robert Sean Collins sold 1,200 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $125.19, for a total transaction of $150,228.00. Following the transaction, the vice president now owns 1,616 shares in the company, valued at approximately $202,307.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Landis Martin bought 18,350 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was purchased at an average price of $123.13 per share, for a total transaction of $2,259,435.50. Following the acquisition, the director now directly owns 120,717 shares in the company, valued at $14,863,884.21. The disclosure for this purchase can be found here. Company insiders own 0.41% of the company’s stock.
Several analysts recently issued reports on CCI shares. Deutsche Bank downgraded CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating and set a $121.00 target price on the stock. in a research note on Monday, March 18th. They noted that the move was a valuation call. Wells Fargo & Co lifted their target price on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Macquarie cut CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a report on Tuesday, February 12th. Guggenheim cut CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a report on Friday, April 12th. They noted that the move was a valuation call. Finally, Bank of America upped their target price on CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $123.25.
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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