CROWN CASTLE IN/SH SH (CCI) Position Boosted by Grove Bank & Trust

Grove Bank & Trust lifted its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 4.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 9,041 shares of the real estate investment trust’s stock after buying an additional 372 shares during the period. Grove Bank & Trust’s holdings in CROWN CASTLE IN/SH SH were worth $1,157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of CROWN CASTLE IN/SH SH in the fourth quarter worth $347,360,000. Executive Wealth Management LLC acquired a new stake in shares of CROWN CASTLE IN/SH SH in the fourth quarter worth $2,662,000. Front Row Advisors LLC increased its position in shares of CROWN CASTLE IN/SH SH by 1.1% in the fourth quarter. Front Row Advisors LLC now owns 8,871 shares of the real estate investment trust’s stock worth $964,000 after acquiring an additional 100 shares in the last quarter. Strs Ohio increased its position in shares of CROWN CASTLE IN/SH SH by 0.8% in the fourth quarter. Strs Ohio now owns 227,726 shares of the real estate investment trust’s stock worth $24,737,000 after acquiring an additional 1,715 shares in the last quarter. Finally, Fox Run Management L.L.C. increased its position in shares of CROWN CASTLE IN/SH SH by 8.4% in the fourth quarter. Fox Run Management L.L.C. now owns 3,065 shares of the real estate investment trust’s stock worth $333,000 after acquiring an additional 238 shares in the last quarter. 93.22% of the stock is currently owned by institutional investors and hedge funds.

CCI traded up $0.99 during trading hours on Friday, reaching $123.65. 21,178 shares of the stock traded hands, compared to its average volume of 1,944,994. The firm has a market cap of $50.97 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.42 and a beta of 0.42. CROWN CASTLE IN/SH SH has a fifty-two week low of $98.85 and a fifty-two week high of $130.60. The company has a current ratio of 0.76, a quick ratio of 0.87 and a debt-to-equity ratio of 1.91.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.93). CROWN CASTLE IN/SH SH had a net margin of 13.82% and a return on equity of 6.31%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company earned $0.21 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. On average, analysts forecast that CROWN CASTLE IN/SH SH will post 5.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $1.125 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.50 dividend on an annualized basis and a yield of 3.64%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.

In other CROWN CASTLE IN/SH SH news, SVP Michael Joseph Kavanagh sold 2,500 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $120.06, for a total transaction of $300,150.00. Following the transaction, the senior vice president now directly owns 38,471 shares in the company, valued at approximately $4,618,828.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Landis Martin acquired 18,350 shares of CROWN CASTLE IN/SH SH stock in a transaction on Wednesday, April 24th. The shares were bought at an average price of $123.13 per share, for a total transaction of $2,259,435.50. Following the completion of the purchase, the director now directly owns 120,717 shares in the company, valued at $14,863,884.21. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

CCI has been the subject of several recent research reports. Zacks Investment Research raised shares of CROWN CASTLE IN/SH SH from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Goldman Sachs Group lowered shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $110.00 price target for the company. in a report on Monday, January 14th. Morgan Stanley raised their price target on shares of CROWN CASTLE IN/SH SH from $120.00 to $129.00 and gave the company an “overweight” rating in a report on Monday, March 11th. Bank of America raised their price target on shares of CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Raymond James raised shares of CROWN CASTLE IN/SH SH from a “mkt perform” rating to an “outperform” rating in a report on Thursday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $122.50.

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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.

Further Reading: Golden Cross

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Institutional Ownership by Quarter for CROWN CASTLE IN/SH SH (NYSE:CCI)

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