Mitsubishi UFJ Trust & Banking Corp Decreases Stock Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

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Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 49.3% in the 2nd quarter, Holdings Channel reports. The fund owned 1,328,709 shares of the real estate investment trust’s stock after selling 1,293,832 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in CROWN CASTLE IN/SH SH were worth $222,359,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CCI. Knuff & Co LLC lifted its holdings in CROWN CASTLE IN/SH SH by 210.0% in the second quarter. Knuff & Co LLC now owns 155 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 105 shares during the last quarter. Rosenberg Matthew Hamilton purchased a new position in CROWN CASTLE IN/SH SH in the second quarter valued at $27,000. Truvestments Capital LLC purchased a new position in shares of CROWN CASTLE IN/SH SH in the 1st quarter valued at about $28,000. Center for Financial Planning Inc. grew its holdings in CROWN CASTLE IN/SH SH by 213.1% during the 1st quarter. Center for Financial Planning Inc. now owns 191 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 130 shares in the last quarter. Finally, Weaver Consulting Group increased its holdings in CROWN CASTLE IN/SH SH by 150.0% in the second quarter. Weaver Consulting Group now owns 165 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 99 shares during the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

CCI stock traded up $2.71 on Wednesday, hitting $166.17. 1,598,590 shares of the company’s stock traded hands, compared to its average volume of 2,243,814. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.14. The stock has a market cap of $68.60 billion, a price-to-earnings ratio of 93.02, a P/E/G ratio of 1.33 and a beta of 0.32. The stock has a fifty day moving average of $163.89 and a 200-day moving average of $160.25. CROWN CASTLE IN/SH SH has a 1-year low of $114.18 and a 1-year high of $180.00.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). CROWN CASTLE IN/SH SH had a return on equity of 8.29% and a net margin of 14.90%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the company earned $1.44 earnings per share. CROWN CASTLE IN/SH SH’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, September 14th. CROWN CASTLE IN/SH SH’s payout ratio is 84.36%.

In other CROWN CASTLE IN/SH SH news, VP Robert Sean Collins sold 2,000 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $164.19, for a total transaction of $328,380.00. Following the sale, the vice president now directly owns 2,634 shares of the company’s stock, valued at $432,476.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James D. Young sold 6,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $163.10, for a total value of $978,600.00. Following the completion of the sale, the chief operating officer now owns 192,679 shares in the company, valued at $31,425,944.90. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

A number of analysts recently weighed in on the stock. Raymond James reiterated a “hold” rating on shares of CROWN CASTLE IN/SH SH in a research note on Thursday, August 6th. Barclays assumed coverage on shares of CROWN CASTLE IN/SH SH in a research report on Wednesday, July 15th. They set an “overweight” rating and a $197.00 target price on the stock. Wells Fargo & Company upped their price target on CROWN CASTLE IN/SH SH from $170.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday. Oppenheimer upgraded shares of CROWN CASTLE IN/SH SH from a “market perform” rating to an “outperform” rating and set a $175.00 target price for the company in a research report on Friday, May 22nd. Finally, UBS Group increased their price objective on CROWN CASTLE IN/SH SH from $150.00 to $173.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. CROWN CASTLE IN/SH SH presently has a consensus rating of “Hold” and an average target price of $172.30.

CROWN CASTLE IN/SH SH Profile

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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