CROWN CASTLE IN/SH SH (NYSE:CCI) Stake Lifted by Chesapeake Wealth Management

Chesapeake Wealth Management lifted its stake in CROWN CASTLE IN/SH SH (NYSE:CCI) by 27.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,680 shares of the real estate investment trust’s stock after acquiring an additional 1,225 shares during the quarter. Chesapeake Wealth Management’s holdings in CROWN CASTLE IN/SH SH were worth $727,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of CROWN CASTLE IN/SH SH in the fourth quarter valued at about $347,360,000. Executive Wealth Management LLC bought a new stake in shares of CROWN CASTLE IN/SH SH in the fourth quarter valued at about $2,662,000. Front Row Advisors LLC lifted its stake 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 valued at $964,000 after buying an additional 100 shares during the period. Strs Ohio lifted its stake 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 valued at $24,737,000 after buying an additional 1,715 shares during the period. Finally, Fox Run Management L.L.C. lifted its stake 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 valued at $333,000 after buying an additional 238 shares during the period. 93.11% of the stock is currently owned by institutional investors and hedge funds.

NYSE CCI opened at $124.03 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.76 and a quick ratio of 0.87. The company has a market cap of $51.41 billion, a PE ratio of 22.63, a PEG ratio of 1.44 and a beta of 0.40. CROWN CASTLE IN/SH SH has a 1-year low of $99.99 and a 1-year high of $130.60.

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 analysts’ consensus estimates of $1.37 by ($0.93). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.39 billion. CROWN CASTLE IN/SH SH had a net margin of 13.82% and a return on equity of 6.31%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 EPS. Equities analysts predict that CROWN CASTLE IN/SH SH will post 5.59 earnings per share for the current year.

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

Several equities research analysts recently weighed in on the stock. Wells Fargo & Co increased their target price on shares of 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 shares of 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. UBS Group cut shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 price target for the company. in a research note on Thursday, April 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 stock a “buy” rating in a research note on Tuesday, March 19th. Finally, Deutsche Bank cut shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating and set a $121.00 price target for the company. in a research note on Monday, March 18th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $122.50.

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

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