Securian Asset Management Inc cut its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,419 shares of the real estate investment trust’s stock after selling 1,809 shares during the quarter. Securian Asset Management Inc’s holdings in CROWN CASTLE IN/SH SH were worth $11,525,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Ropes Wealth Advisors LLC purchased a new position in CROWN CASTLE IN/SH SH in the second quarter valued at about $25,000. Kavar Capital Partners LLC purchased a new position in CROWN CASTLE IN/SH SH in the second quarter valued at about $26,000. Lenox Wealth Management Inc. boosted its stake in CROWN CASTLE IN/SH SH by 2,222.2% in the first quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 200 shares during the last quarter. Northern Oak Wealth Management Inc. purchased a new position in CROWN CASTLE IN/SH SH in the second quarter valued at about $31,000. Finally, Hanson McClain Inc. boosted its stake in CROWN CASTLE IN/SH SH by 75.2% in the second quarter. Hanson McClain Inc. now owns 247 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 91.39% of the company’s stock.
Shares of NYSE CCI traded up $0.59 during midday trading on Tuesday, hitting $145.45. The company’s stock had a trading volume of 32,346 shares, compared to its average volume of 1,879,926. The stock has a fifty day moving average price of $134.42 and a 200 day moving average price of $127.90. CROWN CASTLE IN/SH SH has a one year low of $103.21 and a one year high of $145.07. 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 market capitalization of $59.42 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 1.63 and a beta of 0.33.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $1.125 dividend. This represents a $4.50 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Thursday, September 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is currently 82.12%.
A number of research analysts have weighed in on the stock. Bank of America reiterated a “buy” rating and issued a $151.00 target price (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday, August 14th. JPMorgan Chase & Co. upgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $125.00 to $150.00 in a research note on Thursday, August 1st. Morgan Stanley boosted their target price 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 cut shares of CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 target price on the stock. in a research note on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $128.50.
In related news, VP Robert Sean Collins sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $143.34, for a total transaction of $143,340.00. Following the sale, the vice president now owns 616 shares of the company’s stock, valued at approximately $88,297.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Landis Martin bought 16,300 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 130,617 shares in the company, valued at approximately $16,631,462.61. The disclosure for this purchase 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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