Cowen Prime Services LLC Sells 2,500 Shares of CROWN CASTLE In/SH SH (CCI)

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Cowen Prime Services LLC reduced its holdings in CROWN CASTLE In/SH SH (NYSE:CCI) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,620 shares of the real estate investment trust’s stock after selling 2,500 shares during the period. CROWN CASTLE In/SH SH accounts for about 1.4% of Cowen Prime Services LLC’s portfolio, making the stock its 22nd largest holding. Cowen Prime Services LLC’s holdings in CROWN CASTLE In/SH SH were worth $3,075,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Principal Financial Group Inc. grew its position in shares of CROWN CASTLE In/SH SH by 19.6% in the 1st quarter. Principal Financial Group Inc. now owns 2,331,425 shares of the real estate investment trust’s stock valued at $255,547,000 after acquiring an additional 382,362 shares during the period. Summit Trail Advisors LLC grew its position in shares of CROWN CASTLE In/SH SH by 10.3% in the 1st quarter. Summit Trail Advisors LLC now owns 5,963 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 557 shares during the period. National Investment Services Inc. WI grew its position in shares of CROWN CASTLE In/SH SH by 40.1% in the 2nd quarter. National Investment Services Inc. WI now owns 27,397 shares of the real estate investment trust’s stock valued at $2,954,000 after acquiring an additional 7,847 shares during the period. DnB Asset Management AS grew its position in shares of CROWN CASTLE In/SH SH by 6.9% in the 2nd quarter. DnB Asset Management AS now owns 48,148 shares of the real estate investment trust’s stock valued at $5,191,000 after acquiring an additional 3,100 shares during the period. Finally, IFM Investors Pty Ltd grew its position in shares of CROWN CASTLE In/SH SH by 43.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 18,420 shares of the real estate investment trust’s stock valued at $1,986,000 after acquiring an additional 5,549 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

A number of brokerages have recently commented on CCI. Morgan Stanley lifted their price objective on shares of CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, August 16th. Zacks Investment Research raised shares of CROWN CASTLE In/SH SH from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research report on Thursday, July 19th. Cowen reissued a “buy” rating and issued a $121.00 price objective on shares of CROWN CASTLE In/SH SH in a research report on Friday, July 20th. Guggenheim reissued a “buy” rating and issued a $120.00 price objective on shares of CROWN CASTLE In/SH SH in a research report on Friday, July 20th. Finally, UBS Group set a $120.00 price objective on shares of CROWN CASTLE In/SH SH and gave the company a “buy” rating in a research report on Friday, September 28th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $117.67.

Shares of CCI stock opened at $106.05 on Tuesday. The stock has a market cap of $42.95 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.27 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 has a 52 week low of $98.85 and a 52 week high of $114.97.

CROWN CASTLE In/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 EPS for the quarter, topping the consensus estimate of $0.27 by $0.06. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.35 billion. CROWN CASTLE In/SH SH had a net margin of 10.07% and a return on equity of 4.22%. CROWN CASTLE In/SH SH’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. On average, research analysts forecast that CROWN CASTLE In/SH SH will post 5.25 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be issued a dividend of $1.125 per share. This is an increase from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $4.50 annualized dividend and a dividend yield of 4.24%. CROWN CASTLE In/SH SH’s payout ratio is presently 86.60%.

In related news, Director Robert E. Garrison II sold 2,451 shares of CROWN CASTLE In/SH SH stock in a transaction dated Wednesday, August 29th. The shares were 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 owns 23,100 shares of the company’s stock, valued at approximately $2,632,476. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Landis Martin bought 6,100 shares of CROWN CASTLE In/SH SH stock in a transaction that occurred on Tuesday, August 7th. The shares were bought at an average cost of $110.14 per share, with a total value of $671,854.00. Following the acquisition, the director now directly owns 107,822 shares in the company, valued at approximately $11,875,515.08. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.

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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