Edge Capital Group LLC Sells 5,108 Shares of CROWN CASTLE IN/SH SH (NYSE:CCI)

Edge Capital Group LLC reduced its position in CROWN CASTLE IN/SH SH (NYSE:CCI) by 6.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,288 shares of the real estate investment trust’s stock after selling 5,108 shares during the quarter. CROWN CASTLE IN/SH SH makes up about 1.0% of Edge Capital Group LLC’s investment portfolio, making the stock its 19th largest holding. Edge Capital Group LLC’s holdings in CROWN CASTLE IN/SH SH were worth $10,466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Truewealth LLC lifted its holdings in shares of CROWN CASTLE IN/SH SH by 48.0% in the first quarter. Truewealth LLC now owns 256 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 83 shares in the last quarter. Strategic Investment Advisors MI raised its stake in CROWN CASTLE IN/SH SH by 2.4% during the first quarter. Strategic Investment Advisors MI now owns 3,518 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 84 shares in the last quarter. Lindbrook Capital LLC raised its stake in CROWN CASTLE IN/SH SH by 11.4% during the second quarter. Lindbrook Capital LLC now owns 821 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 84 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in CROWN CASTLE IN/SH SH by 3.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,621 shares of the real estate investment trust’s stock valued at $335,000 after purchasing an additional 85 shares in the last quarter. Finally, Cornerstone Advisors Inc. raised its stake in CROWN CASTLE IN/SH SH by 4.6% during the second quarter. Cornerstone Advisors Inc. now owns 2,045 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

CCI stock opened at $133.13 on Tuesday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.76 and a quick ratio of 0.76. CROWN CASTLE IN/SH SH has a twelve month low of $103.21 and a twelve month high of $137.85. The company has a market capitalization of $55.35 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.55 and a beta of 0.33. The company’s fifty day moving average price is $132.40.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.85). CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the firm earned $0.36 EPS. The company’s revenue was up 11.1% on a year-over-year basis. Equities research analysts forecast that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current fiscal year.

CCI has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and upped their price target for the company from $125.00 to $150.00 in a research note on Thursday, August 1st. Guggenheim downgraded 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 downgraded shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 price target on the stock. in a research note on Thursday, April 11th. Morgan Stanley upped their price target on shares of CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, New Street Research downgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price target on the stock. in a research note on Thursday, June 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $126.70.

In related news, Director J Landis Martin purchased 16,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average cost of $127.33 per share, for a total transaction of $2,075,479.00. Following the completion of the acquisition, the director now owns 130,617 shares in the company, valued at approximately $16,631,462.61. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert Sean Collins sold 1,200 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total transaction of $150,228.00. Following the completion of the transaction, the vice president now owns 1,616 shares in the company, valued at $202,307.04. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

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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