Nordea Investment Management AB raised its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 25.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 216,721 shares of the real estate investment trust’s stock after buying an additional 43,732 shares during the quarter. Nordea Investment Management AB owned about 0.05% of CROWN CASTLE IN/SH SH worth $23,541,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Capital Investment Advisory Services LLC purchased a new position in CROWN CASTLE IN/SH SH during the 4th quarter valued at about $26,000. Covington Capital Management purchased a new position in shares of CROWN CASTLE IN/SH SH during the fourth quarter worth about $29,000. Athena Capital Advisors LLC purchased a new stake in CROWN CASTLE IN/SH SH in the fourth quarter worth approximately $33,000. Doyle Wealth Management purchased a new stake in CROWN CASTLE IN/SH SH in the fourth quarter worth approximately $33,000. Finally, Quantamental Technologies LLC purchased a new stake in CROWN CASTLE IN/SH SH in the fourth quarter worth approximately $42,000. 93.18% of the stock is owned by institutional investors and hedge funds.
In related news, Director Edward C. Hutcheson, Jr. bought 350 shares of the business’s stock in a transaction dated Friday, February 8th. The shares were purchased at an average cost of $117.95 per share, with a total value of $41,282.50. Following the completion of the purchase, the director now owns 59,187 shares in the company, valued at approximately $6,981,106.65. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $120.06, for a total value of $300,150.00. Following the completion of the sale, the senior vice president now directly owns 38,471 shares in the company, valued at $4,618,828.26. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.
Shares of CROWN CASTLE IN/SH SH stock traded down $1.55 during midday trading on Friday, reaching $122.62. 2,748,539 shares of the company’s stock traded hands, compared to its average volume of 1,930,352. The company has a quick ratio of 0.87, a current ratio of 0.76 and a debt-to-equity ratio of 1.91. The company has a market cap of $50.96 billion, a PE ratio of 22.38, a P/E/G ratio of 1.41 and a beta of 0.42. CROWN CASTLE IN/SH SH has a 12 month low of $98.85 and a 12 month high of $130.60.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.93). The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.39 billion. CROWN CASTLE IN/SH SH had a net margin of 13.82% and a return on equity of 6.31%. CROWN CASTLE IN/SH SH’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 EPS. On average, research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.6 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $1.125 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.50 dividend on an annualized basis and a dividend yield of 3.67%. CROWN CASTLE IN/SH SH’s dividend payout ratio is presently 82.12%.
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CROWN CASTLE IN/SH SH Company Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 65,000 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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