Dumont & Blake Investment Advisors LLC Invests $728,000 in CROWN CASTLE IN/SH SH (NYSE:CCI)

Dumont & Blake Investment Advisors LLC acquired a new position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,685 shares of the real estate investment trust’s stock, valued at approximately $728,000.

Other hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its stake in CROWN CASTLE IN/SH SH by 10,630.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,899,104 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 4,853,447 shares in the last quarter. Vanguard Group Inc raised its stake in shares of CROWN CASTLE IN/SH SH by 7.6% during the 3rd quarter. Vanguard Group Inc now owns 53,196,893 shares of the real estate investment trust’s stock worth $5,922,410,000 after purchasing an additional 3,771,236 shares during the period. Vanguard Group Inc. raised its stake in shares of CROWN CASTLE IN/SH SH by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 53,196,893 shares of the real estate investment trust’s stock worth $5,922,410,000 after purchasing an additional 3,771,236 shares during the period. Norges Bank bought a new stake in shares of CROWN CASTLE IN/SH SH during the 4th quarter worth $347,360,000. Finally, Jennison Associates LLC raised its stake in shares of CROWN CASTLE IN/SH SH by 110.6% during the 4th quarter. Jennison Associates LLC now owns 4,571,756 shares of the real estate investment trust’s stock worth $496,630,000 after purchasing an additional 2,400,421 shares during the period. 93.22% of the stock is owned by institutional investors.

A number of equities research analysts have recently commented on the company. Wells Fargo & Co lifted their target price on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. TheStreet raised CROWN CASTLE IN/SH SH from a “c+” rating to a “b” rating in a report on Wednesday, January 23rd. UBS Group lowered CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 price objective for the company. in a report on Thursday, April 11th. Guggenheim lowered CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a report on Friday, April 12th. They noted that the move was a valuation call. Finally, Deutsche Bank lowered CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating and set a $121.00 target price for the company. in a report on Monday, March 18th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. CROWN CASTLE IN/SH SH has an average rating of “Hold” and a consensus target price of $122.50.

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

NYSE:CCI opened at $124.01 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.76 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 $51.53 billion, a P/E ratio of 22.63, a PEG ratio of 1.42 and a beta of 0.42.

CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its quarterly earnings data 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 net margin of 13.82% and a return on equity of 6.31%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that CROWN CASTLE IN/SH SH will post 5.59 EPS for the current fiscal year.

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