Sumitomo Life Insurance Co. Sells 1,964 Shares of CROWN CASTLE IN/SH SH (CCI)

Sumitomo Life Insurance Co. reduced its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 10.0% during the 1st quarter, Holdings Channel reports. The fund owned 17,683 shares of the real estate investment trust’s stock after selling 1,964 shares during the period. Sumitomo Life Insurance Co.’s holdings in CROWN CASTLE IN/SH SH were worth $2,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of CROWN CASTLE IN/SH SH by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 53,196,893 shares of the real estate investment trust’s stock valued at $5,922,410,000 after acquiring an additional 3,771,236 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of CROWN CASTLE IN/SH SH by 7.6% in the third quarter. Vanguard Group Inc now owns 53,196,893 shares of the real estate investment trust’s stock valued at $5,922,410,000 after purchasing an additional 3,771,236 shares during the period. BlackRock Inc. grew its holdings in shares of CROWN CASTLE IN/SH SH by 0.4% in the fourth quarter. BlackRock Inc. now owns 28,057,717 shares of the real estate investment trust’s stock valued at $3,047,911,000 after purchasing an additional 118,392 shares during the period. Magellan Asset Management Ltd grew its holdings in shares of CROWN CASTLE IN/SH SH by 0.6% in the fourth quarter. Magellan Asset Management Ltd now owns 12,663,576 shares of the real estate investment trust’s stock valued at $1,375,644,000 after purchasing an additional 69,936 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of CROWN CASTLE IN/SH SH by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,123,320 shares of the real estate investment trust’s stock valued at $665,173,000 after purchasing an additional 139,365 shares during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on CCI shares. Zacks Investment Research lowered shares of CROWN CASTLE IN/SH SH from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Raymond James raised shares of CROWN CASTLE IN/SH SH from a “mkt perform” rating to an “outperform” rating in a report on Thursday, January 3rd. Goldman Sachs Group lowered shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $110.00 price objective for the company. in a report on Monday, January 14th. TheStreet raised shares of CROWN CASTLE IN/SH SH from a “c+” rating to a “b” rating in a report on Wednesday, January 23rd. Finally, Macquarie lowered shares of CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a report on Tuesday, February 12th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. CROWN CASTLE IN/SH SH presently has a consensus rating of “Hold” and a consensus price target of $122.50.

In other CROWN CASTLE IN/SH SH news, Director Edward C. Hutcheson, Jr. purchased 350 shares of CROWN CASTLE IN/SH SH stock in a transaction dated Friday, February 8th. The shares were acquired at an average price of $117.95 per share, with a total value of $41,282.50. Following the completion of the transaction, the director now owns 59,187 shares of the company’s stock, valued at $6,981,106.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of the stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $120.06, for a total transaction of $300,150.00. Following the sale, the senior vice president now directly owns 38,471 shares in the company, valued at approximately $4,618,828.26. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Shares of CCI stock opened at $124.43 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.38. The stock has a market cap of $52.94 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 1.47 and a beta of 0.42. CROWN CASTLE IN/SH SH has a 1-year low of $98.85 and a 1-year high of $130.60.

CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, January 23rd. The real estate investment trust reported $0.44 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. CROWN CASTLE IN/SH SH had a net margin of 11.86% and a return on equity of 5.17%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.6 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Thursday, March 14th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is presently 82.12%.

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About CROWN CASTLE IN/SH SH

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 65,000 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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