Virtu Financial LLC increased its holdings in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 226.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,231 shares of the real estate investment trust’s stock after purchasing an additional 14,027 shares during the quarter. Virtu Financial LLC’s holdings in CROWN CASTLE IN/SH SH were worth $2,590,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Capital Investment Advisory Services LLC purchased a new position in shares of CROWN CASTLE IN/SH SH in the 4th quarter valued at about $26,000. Covington Capital Management purchased a new position in shares of CROWN CASTLE IN/SH SH in the 4th quarter valued at about $29,000. CX Institutional boosted its stake in shares of CROWN CASTLE IN/SH SH by 160.7% in the 1st quarter. CX Institutional now owns 232 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 143 shares during the period. Athena Capital Advisors LLC purchased a new position in shares of CROWN CASTLE IN/SH SH in the 4th quarter valued at about $33,000. Finally, Doyle Wealth Management purchased a new position in shares of CROWN CASTLE IN/SH SH in the 4th quarter valued at about $33,000. 93.25% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. UBS Group cut 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 research note on Thursday, April 11th. Wells Fargo & Co lifted their price objective on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Guggenheim cut CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a research note on Friday, April 12th. They noted that the move was a valuation call. Bank of America lifted their price objective on CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, Deutsche Bank cut 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 research note on Monday, March 18th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $122.50.
CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.44 earnings per share 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 firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the firm posted $0.21 EPS. CROWN CASTLE IN/SH SH’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that CROWN CASTLE IN/SH SH will post 5.59 earnings per share for the current fiscal year.
In related news, Director Edward C. Hutcheson, Jr. bought 350 shares of the company’s stock in a transaction dated Friday, February 8th. The shares were acquired at an average price of $117.95 per share, with a total value of $41,282.50. Following the completion of the acquisition, the director now owns 59,187 shares in the company, valued at approximately $6,981,106.65. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $120.06, for a total value of $300,150.00. Following the completion of the transaction, the senior vice president now directly owns 38,471 shares in the company, valued at approximately $4,618,828.26. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.
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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 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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