Sunbelt Securities Inc. Increases Stake in CROWN CASTLE IN/SH SH (NYSE:CCI)

Sunbelt Securities Inc. grew its stake in CROWN CASTLE IN/SH SH (NYSE:CCI) by 4.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,972 shares of the real estate investment trust’s stock after buying an additional 88 shares during the quarter. Sunbelt Securities Inc.’s holdings in CROWN CASTLE IN/SH SH were worth $257,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the stock. Truewealth LLC lifted its stake in CROWN CASTLE IN/SH SH by 48.0% in the first quarter. Truewealth LLC now owns 256 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 83 shares during the last quarter. Strategic Investment Advisors MI increased its holdings in shares of CROWN CASTLE IN/SH SH by 2.4% in the first quarter. Strategic Investment Advisors MI now owns 3,518 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 84 shares during the period. Lindbrook Capital LLC increased its holdings in shares of CROWN CASTLE IN/SH SH by 11.4% in the second quarter. Lindbrook Capital LLC now owns 821 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 84 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of CROWN CASTLE IN/SH SH by 3.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,621 shares of the real estate investment trust’s stock valued at $335,000 after purchasing an additional 85 shares during the period. Finally, Cornerstone Advisors Inc. increased its holdings in shares of CROWN CASTLE IN/SH SH by 4.6% in the second quarter. Cornerstone Advisors Inc. now owns 2,045 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

In other news, VP Robert Sean Collins sold 1,200 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total value of $150,228.00. Following the sale, the vice president now directly owns 1,616 shares in the company, valued at $202,307.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Landis Martin acquired 16,300 shares of CROWN CASTLE IN/SH SH stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average price of $127.33 per share, for a total transaction of $2,075,479.00. Following the completion of the transaction, the director now directly owns 130,617 shares of the company’s stock, valued at $16,631,462.61. The disclosure for this purchase can be found here. 0.41% of the stock is owned by corporate insiders.

A number of research firms have recently issued reports on CCI. Bank of America reissued a “buy” rating and issued a $151.00 target price (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday. New Street Research lowered CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 target price on the stock. in a report on Thursday, June 13th. Morgan Stanley boosted their target price on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $125.00 to $150.00 in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. CROWN CASTLE IN/SH SH has a consensus rating of “Hold” and an average price target of $128.50.

CROWN CASTLE IN/SH SH stock traded up $2.06 during trading hours on Thursday, hitting $141.00. The stock had a trading volume of 22,431 shares, compared to its average volume of 2,182,189. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.99. The company has a market cap of $57.97 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.33. CROWN CASTLE IN/SH SH has a 1-year low of $103.21 and a 1-year high of $142.24. The firm has a fifty day simple moving average of $133.21.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.85). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.42 billion. CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. On average, research analysts expect that CROWN CASTLE IN/SH SH will post 5.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $1.125 dividend. The ex-dividend date is Thursday, September 12th. This represents a $4.50 annualized dividend and a dividend yield of 3.19%. CROWN CASTLE IN/SH SH’s dividend payout ratio is currently 82.12%.

About CROWN CASTLE IN/SH SH

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

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