Strs Ohio Trims Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

Strs Ohio trimmed its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,384 shares of the real estate investment trust’s stock after selling 4,202 shares during the quarter. Strs Ohio owned approximately 0.05% of CROWN CASTLE IN/SH SH worth $29,769,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Western Wealth Management LLC grew its stake in CROWN CASTLE IN/SH SH by 9.7% in the first quarter. Western Wealth Management LLC now owns 3,463 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 307 shares in the last quarter. Hunter Associates Investment Management LLC raised its holdings in CROWN CASTLE IN/SH SH by 40.8% in the 1st quarter. Hunter Associates Investment Management LLC now owns 2,760 shares of the real estate investment trust’s stock valued at $353,000 after acquiring an additional 800 shares in the last quarter. Sterling Investment Management Inc. grew its stake in shares of CROWN CASTLE IN/SH SH by 7.2% in the 1st quarter. Sterling Investment Management Inc. now owns 23,409 shares of the real estate investment trust’s stock valued at $2,996,000 after purchasing an additional 1,582 shares during the period. Union Bankshares Corp grew its position in CROWN CASTLE IN/SH SH by 32.8% during the 1st quarter. Union Bankshares Corp now owns 54,090 shares of the real estate investment trust’s stock worth $6,924,000 after acquiring an additional 13,362 shares during the last quarter. Finally, Vantage Investment Partners LLC bought a new stake in CROWN CASTLE IN/SH SH during the 1st quarter worth approximately $8,392,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

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

A number of research analysts have commented on CCI shares. Wells Fargo & Co increased 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 report on Monday, April 15th. New Street Research downgraded 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. Guggenheim downgraded 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. Morgan Stanley raised their price objective on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. upgraded CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $125.00 to $150.00 in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $126.70.

CCI remained flat at $$136.30 during trading on Wednesday. 478,833 shares of the company’s stock traded hands, compared to its average volume of 2,099,006. CROWN CASTLE IN/SH SH has a 1-year low of $103.21 and a 1-year high of $137.85. The stock has a market cap of $55.91 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 1.55 and a beta of 0.33. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.99. The firm has a fifty day moving average of $132.42.

CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.52 EPS for the quarter, missing the 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 analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts anticipate that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current fiscal year.

CROWN CASTLE IN/SH SH 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.

See Also: Equity Income

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

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