CROWN CASTLE IN/SH SH (NYSE:CCI) Stake Lowered by Park National Corp OH

Park National Corp OH reduced its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 23.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,898 shares of the real estate investment trust’s stock after selling 592 shares during the quarter. Park National Corp OH’s holdings in CROWN CASTLE IN/SH SH were worth $243,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CCI. Liberty Wealth Management LLC purchased a new stake in shares of CROWN CASTLE IN/SH SH during the fourth quarter worth approximately $86,000. Magellan Asset Management Ltd boosted its stake in CROWN CASTLE IN/SH SH by 0.6% during the fourth quarter. Magellan Asset Management Ltd now owns 12,663,576 shares of the real estate investment trust’s stock worth $1,375,644,000 after buying an additional 69,936 shares during the last quarter. Norges Bank acquired a new position in CROWN CASTLE IN/SH SH during the fourth quarter worth $347,360,000. Actinver Wealth Management Inc. acquired a new position in CROWN CASTLE IN/SH SH during the fourth quarter worth $311,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in CROWN CASTLE IN/SH SH by 4.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 24,089 shares of the real estate investment trust’s stock worth $2,617,000 after buying an additional 1,026 shares during the last quarter. Institutional investors own 93.22% of the company’s stock.

In other CROWN CASTLE IN/SH SH news, Director J Landis Martin acquired 18,350 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were acquired at an average price of $123.13 per share, for a total transaction of $2,259,435.50. Following the acquisition, the director now owns 120,717 shares in the company, valued at approximately $14,863,884.21. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward C. Hutcheson, Jr. acquired 350 shares of the company’s stock in a transaction dated Friday, February 8th. The stock was acquired at an average price of $117.95 per share, for a total transaction of $41,282.50. Following the acquisition, the director now owns 59,187 shares in the company, valued at approximately $6,981,106.65. The disclosure for this purchase can be found here. 0.41% of the stock is owned by corporate insiders.

A number of equities analysts have weighed in on CCI shares. Zacks Investment Research lowered CROWN CASTLE IN/SH SH from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Raymond James raised CROWN CASTLE IN/SH SH from a “mkt perform” rating to an “outperform” rating in a research note on Thursday, January 3rd. Goldman Sachs Group lowered CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $110.00 price target on the stock. in a research note on Monday, January 14th. TheStreet raised CROWN CASTLE IN/SH SH from a “c+” rating to a “b” rating in a research note on Wednesday, January 23rd. Finally, Macquarie lowered CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 12th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $122.50.

Shares of CCI stock traded up $1.35 on Friday, hitting $124.01. The stock had a trading volume of 1,630,154 shares, compared to its average volume of 1,944,994. 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 has a 1 year low of $98.85 and a 1 year high of $130.60. The company has a market capitalization of $50.97 billion, a PE ratio of 22.63, a P/E/G ratio of 1.42 and a beta of 0.42.

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

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 annualized dividend and a yield of 3.63%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.

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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.

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

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