Usca Ria LLC purchased a new stake in CROWN CASTLE IN/SH SH (NYSE:CCI) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 13,260 shares of the real estate investment trust’s stock, valued at approximately $1,728,000.
Other large investors have also recently added to or reduced their stakes in the company. Ropes Wealth Advisors LLC bought a new stake in shares of CROWN CASTLE IN/SH SH in the 2nd quarter valued at about $25,000. Kavar Capital Partners LLC acquired a new stake in CROWN CASTLE IN/SH SH in the 2nd quarter worth approximately $26,000. Lenox Wealth Management Inc. boosted its stake in CROWN CASTLE IN/SH SH by 2,222.2% in the 1st quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 200 shares in the last quarter. Northern Oak Wealth Management Inc. acquired a new stake in CROWN CASTLE IN/SH SH in the 2nd quarter worth approximately $31,000. Finally, Hanson McClain Inc. boosted its stake in CROWN CASTLE IN/SH SH by 75.2% in the 2nd quarter. Hanson McClain Inc. now owns 247 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.
In other CROWN CASTLE IN/SH SH news, Director J Landis Martin purchased 16,300 shares of CROWN CASTLE IN/SH SH stock in a transaction on Tuesday, July 23rd. The stock was bought at an average cost of $127.33 per share, with a total value of $2,075,479.00. Following the transaction, the director now owns 130,617 shares of the company’s stock, valued at approximately $16,631,462.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert Sean Collins sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $143.34, for a total transaction of $143,340.00. Following the transaction, the vice president now directly owns 616 shares of the company’s stock, valued at $88,297.44. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.
CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.85). CROWN CASTLE IN/SH SH had a return on equity of 7.00% and a net margin of 14.62%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the business posted $0.36 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $1.125 per share. This represents a $4.50 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Thursday, September 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio is presently 82.12%.
A number of analysts recently commented on CCI shares. Bank of America reiterated a “buy” rating and issued a $151.00 target price (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday. JPMorgan Chase & Co. upgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $125.00 to $150.00 in a research note on Thursday, August 1st. Morgan Stanley lifted their target price on shares of CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, New Street Research cut shares of CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 target price for the company. in a research note on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $128.50.
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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