CROWN CASTLE In/SH SH (CCI) Stake Lifted by Klingenstein Fields & Co. LLC

Klingenstein Fields & Co. LLC lifted its holdings in CROWN CASTLE In/SH SH (NYSE:CCI) by 0.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 270,379 shares of the real estate investment trust’s stock after purchasing an additional 1,088 shares during the quarter. Klingenstein Fields & Co. LLC’s holdings in CROWN CASTLE In/SH SH were worth $30,101,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in CCI. Principal Financial Group Inc. grew its stake in shares of CROWN CASTLE In/SH SH by 19.6% in the first quarter. Principal Financial Group Inc. now owns 2,331,425 shares of the real estate investment trust’s stock worth $255,547,000 after purchasing an additional 382,362 shares in the last quarter. Summit Trail Advisors LLC grew its stake in shares of CROWN CASTLE In/SH SH by 10.3% in the first quarter. Summit Trail Advisors LLC now owns 5,963 shares of the real estate investment trust’s stock worth $310,000 after purchasing an additional 557 shares in the last quarter. DnB Asset Management AS grew its stake in shares of CROWN CASTLE In/SH SH by 6.9% in the second quarter. DnB Asset Management AS now owns 48,148 shares of the real estate investment trust’s stock worth $5,191,000 after purchasing an additional 3,100 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of CROWN CASTLE In/SH SH by 43.1% in the second quarter. IFM Investors Pty Ltd now owns 18,420 shares of the real estate investment trust’s stock worth $1,986,000 after purchasing an additional 5,549 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of CROWN CASTLE In/SH SH by 17.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,265 shares of the real estate investment trust’s stock worth $783,000 after purchasing an additional 1,100 shares in the last quarter. 94.91% of the stock is owned by institutional investors.

In other news, Director Robert E. Garrison II sold 2,451 shares of the company’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 completion of the sale, the director now directly owns 23,100 shares of the company’s stock, valued at $2,632,476. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Langenfeld Cynthia K. Christy bought 900 shares of CROWN CASTLE In/SH SH stock in a transaction dated Monday, October 22nd. The shares were bought at an average cost of $106.19 per share, with a total value of $95,571.00. Following the completion of the acquisition, the director now owns 25,424 shares of the company’s stock, valued at $2,699,774.56. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.

Several research firms have recently issued reports on CCI. Morgan Stanley increased 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. Zacks Investment Research raised CROWN CASTLE In/SH SH from a “hold” rating to a “buy” rating and set a $124.00 price target for the company in a research note on Thursday, July 19th. Cowen reaffirmed a “buy” rating and set a $121.00 target price on shares of CROWN CASTLE In/SH SH in a research note on Friday, July 20th. Guggenheim reaffirmed a “buy” rating and set a $120.00 target price on shares of CROWN CASTLE In/SH SH in a research note on Friday, July 20th. Finally, UBS Group set a $120.00 target price on CROWN CASTLE In/SH SH and gave the company a “buy” rating in a research note on Friday, September 28th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. CROWN CASTLE In/SH SH currently has an average rating of “Buy” and a consensus target price of $117.67.

CCI stock traded down $0.97 during trading hours on Friday, hitting $108.35. 10,619 shares of the stock traded hands, compared to its average volume of 2,757,940. CROWN CASTLE In/SH SH has a one year low of $98.85 and a one year high of $114.97. The stock has a market capitalization of $45.43 billion, a P/E ratio of 22.35, a P/E/G ratio of 1.35 and a beta of 0.35. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.33.

CROWN CASTLE In/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.06. CROWN CASTLE In/SH SH had a return on equity of 4.22% and a net margin of 10.07%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the business posted $0.21 earnings per share. The company’s quarterly revenue was up 29.4% on a year-over-year basis. On average, sell-side analysts anticipate that CROWN CASTLE In/SH SH will post 5.25 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be paid a dividend of $1.125 per share. The ex-dividend date is Thursday, December 13th. This represents a $4.50 annualized dividend and a yield of 4.15%. This is a boost from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. CROWN CASTLE In/SH SH’s dividend payout ratio (DPR) is currently 86.60%.

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.

Featured Article: What is a Tariff?

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CROWN CASTLE In/SH SH (NYSE:CCI).

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

Receive News & Ratings for CROWN CASTLE In/SH SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CROWN CASTLE In/SH SH and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply