Oakbrook Investments LLC trimmed its stake in CROWN CASTLE IN/SH SH (NYSE:CCI) by 0.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,575 shares of the real estate investment trust’s stock after selling 100 shares during the period. Oakbrook Investments LLC’s holdings in CROWN CASTLE IN/SH SH were worth $1,994,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Investment Advisory Services LLC bought a new stake in shares of CROWN CASTLE IN/SH SH in the fourth quarter worth about $26,000. Covington Capital Management acquired a new position in shares of CROWN CASTLE IN/SH SH during the fourth quarter worth about $29,000. CX Institutional boosted its position in shares of CROWN CASTLE IN/SH SH by 160.7% during the first quarter. CX Institutional now owns 232 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 143 shares during the period. Athena Capital Advisors LLC acquired a new position in shares of CROWN CASTLE IN/SH SH during the fourth quarter worth about $33,000. Finally, Doyle Wealth Management acquired a new position in shares of CROWN CASTLE IN/SH SH during the fourth quarter worth about $33,000. 93.11% of the stock is currently owned by institutional investors.
CROWN CASTLE IN/SH SH stock traded up $1.65 during mid-day trading on Friday, reaching $125.68. 1,265,957 shares of the company were exchanged, compared to its average volume of 1,694,973. The firm has a market cap of $52.25 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.43 and a beta of 0.40. CROWN CASTLE IN/SH SH has a 12 month low of $99.99 and a 12 month high of $130.60. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.76 and a quick ratio of 0.87.
In other CROWN CASTLE IN/SH SH news, SVP Michael Joseph Kavanagh sold 2,500 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $120.06, for a total value of $300,150.00. Following the sale, the senior vice president now owns 38,471 shares of the company’s stock, valued at approximately $4,618,828.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J Landis Martin bought 18,350 shares of CROWN CASTLE IN/SH SH stock in a transaction on Wednesday, April 24th. The stock was acquired at an average cost 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 disclosure for this purchase can be found here. Company insiders own 0.41% of the company’s stock.
Several research firms have recently weighed in on CCI. Wells Fargo & Co upped their price objective on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. UBS Group cut 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 report on Thursday, April 11th. TheStreet raised CROWN CASTLE IN/SH SH from a “c+” rating to a “b” rating in a research report on Wednesday, January 23rd. Bank of America increased their price target on CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, Morgan Stanley raised their price objective on CROWN CASTLE IN/SH SH from $120.00 to $129.00 and gave the company an “overweight” rating in a research report on Monday, March 11th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average 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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