CIBC Asset Management Inc Has $8.03 Million Position in CROWN CASTLE In/SH SH (CCI)

CIBC Asset Management Inc lowered its stake in shares of CROWN CASTLE In/SH SH (NYSE:CCI) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,158 shares of the real estate investment trust’s stock after selling 2,970 shares during the quarter. CIBC Asset Management Inc’s holdings in CROWN CASTLE In/SH SH were worth $8,033,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Magellan Asset Management Ltd grew its position in CROWN CASTLE In/SH SH by 0.4% during the second quarter. Magellan Asset Management Ltd now owns 12,710,313 shares of the real estate investment trust’s stock worth $1,370,426,000 after buying an additional 53,501 shares in the last quarter. Janus Henderson Group PLC grew its position in CROWN CASTLE In/SH SH by 2.4% during the second quarter. Janus Henderson Group PLC now owns 6,607,141 shares of the real estate investment trust’s stock worth $712,416,000 after buying an additional 155,279 shares in the last quarter. Dimensional Fund Advisors LP grew its position in CROWN CASTLE In/SH SH by 18.5% during the second quarter. Dimensional Fund Advisors LP now owns 5,399,446 shares of the real estate investment trust’s stock worth $582,167,000 after buying an additional 844,554 shares in the last quarter. Daiwa Securities Group Inc. grew its position in CROWN CASTLE In/SH SH by 2.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,511,837 shares of the real estate investment trust’s stock worth $486,466,000 after buying an additional 90,484 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in CROWN CASTLE In/SH SH by 13.2% during the third quarter. Wells Fargo & Company MN now owns 2,901,049 shares of the real estate investment trust’s stock worth $322,974,000 after buying an additional 338,585 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Robert E. Garrison II sold 2,451 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $113.96, for a total value of $279,315.96. Following the completion of the transaction, the director now directly owns 23,100 shares in the company, valued at approximately $2,632,476. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Langenfeld Cynthia K. Christy purchased 900 shares of the company’s stock in a transaction dated Monday, October 22nd. The stock was purchased at an average price of $106.19 per share, with a total value of $95,571.00. Following the completion of the purchase, the director now directly owns 25,424 shares in the company, valued at approximately $2,699,774.56. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.

A number of brokerages recently issued reports on CCI. Citigroup increased 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 report on Tuesday, July 24th. Zacks Investment Research downgraded CROWN CASTLE In/SH SH from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 24th. ValuEngine raised CROWN CASTLE In/SH SH from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Guggenheim restated 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 stock a “buy” rating in a research note on Friday, September 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $117.67.

NYSE CCI opened at $111.21 on Wednesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.96 and a quick ratio of 0.91. CROWN CASTLE In/SH SH has a fifty-two week low of $98.85 and a fifty-two week high of $114.97. The firm has a market cap of $45.36 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 1.34 and a beta of 0.35.

CROWN CASTLE In/SH SH (NYSE:CCI) last released its earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the 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 firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company earned $0.21 earnings per share. The company’s quarterly revenue was up 29.4% on a year-over-year basis. As a group, analysts predict that CROWN CASTLE In/SH SH will post 5.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders 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 is a boost from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. This represents a $4.50 annualized dividend and a yield of 4.05%. CROWN CASTLE In/SH SH’s dividend payout ratio is presently 86.60%.

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

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