CROWN CASTLE IN/SH SH (NYSE:CCI) Sets New 52-Week High at $142.22

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CROWN CASTLE IN/SH SH (NYSE:CCI) hit a new 52-week high during trading on Tuesday . The company traded as high as $142.22 and last traded at $142.19, with a volume of 113617 shares trading hands. The stock had previously closed at $141.50.

A number of brokerages recently commented on CCI. New Street Research cut shares of CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price objective on the stock. in a research note on Thursday, June 13th. JPMorgan Chase & Co. raised shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $150.00 in a research note on Thursday, August 1st. Wells Fargo & Co increased their price objective on shares of CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Morgan Stanley increased their price objective on shares of CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $126.70.

The stock has a market cap of $58.60 billion, a P/E ratio of 25.90, a PEG ratio of 1.78 and a beta of 0.33. 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 business’s fifty day moving average price is $133.09.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.85). The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion. CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. CROWN CASTLE IN/SH SH’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.36 earnings per share. Research analysts expect that CROWN CASTLE IN/SH SH will post 5.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $1.125 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.50 dividend on an annualized basis and a yield of 3.17%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.

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

A number of large investors have recently added to or reduced their stakes in CCI. Western Wealth Management LLC lifted its holdings in shares of CROWN CASTLE IN/SH SH by 9.7% during the 1st quarter. Western Wealth Management LLC now owns 3,463 shares of the real estate investment trust’s stock worth $443,000 after acquiring an additional 307 shares during the period. Hunter Associates Investment Management LLC lifted its holdings in shares of CROWN CASTLE IN/SH SH by 40.8% during the 1st quarter. Hunter Associates Investment Management LLC now owns 2,760 shares of the real estate investment trust’s stock worth $353,000 after acquiring an additional 800 shares during the period. Sterling Investment Management Inc. lifted its holdings in shares of CROWN CASTLE IN/SH SH by 7.2% during the 1st quarter. Sterling Investment Management Inc. now owns 23,409 shares of the real estate investment trust’s stock worth $2,996,000 after acquiring an additional 1,582 shares during the period. Vantage Investment Partners LLC purchased a new position in shares of CROWN CASTLE IN/SH SH during the 1st quarter worth about $8,392,000. Finally, Ellis Investment Partners LLC purchased a new position in shares of CROWN CASTLE IN/SH SH during the 1st quarter worth about $610,000. Institutional investors own 91.28% of the company’s stock.

CROWN CASTLE IN/SH SH Company Profile (NYSE:CCI)

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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