New Mexico Educational Retirement Board Trims Position in CROWN CASTLE IN/SH SH (CCI)

New Mexico Educational Retirement Board lessened its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,600 shares of the real estate investment trust’s stock after selling 700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in CROWN CASTLE IN/SH SH were worth $4,429,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Capital Investment Advisory Services LLC purchased a new stake in CROWN CASTLE IN/SH SH during the fourth quarter valued at $26,000. Covington Capital Management purchased a new stake in CROWN CASTLE IN/SH SH during the fourth quarter valued at $29,000. CX Institutional increased its position in 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 valued at $30,000 after acquiring an additional 143 shares during the last quarter. Athena Capital Advisors LLC purchased a new stake in CROWN CASTLE IN/SH SH during the fourth quarter valued at $33,000. Finally, Doyle Wealth Management purchased a new stake in CROWN CASTLE IN/SH SH during the fourth quarter valued at $33,000. Institutional investors own 93.18% of the company’s stock.

Shares of CCI opened at $124.61 on Wednesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $52.94 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 1.47 and a beta of 0.42. CROWN CASTLE IN/SH SH has a 52 week low of $98.85 and a 52 week high of $130.60.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings results on Wednesday, January 23rd. The real estate investment trust reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. CROWN CASTLE IN/SH SH had a return on equity of 5.17% and a net margin of 11.86%. The company’s revenue was up 14.6% on a year-over-year basis. As a group, research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, March 14th. CROWN CASTLE IN/SH SH’s dividend payout ratio is currently 82.12%.

In other CROWN CASTLE IN/SH SH news, Director Edward C. Hutcheson, Jr. bought 350 shares of the business’s stock in a transaction that occurred on Friday, February 8th. The stock was purchased at an average price of $117.95 per share, for a total transaction of $41,282.50. Following the completion of the transaction, the director now owns 59,187 shares of the company’s stock, valued at approximately $6,981,106.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

CCI has been the subject of a number of analyst reports. Guggenheim cut CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a research report on Friday, April 12th. They noted that the move was a valuation call. Deutsche Bank cut 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 report on Monday, March 18th. They noted that the move was a valuation call. Raymond James upgraded CROWN CASTLE IN/SH SH from a “mkt perform” rating to an “outperform” rating in a research report on Thursday, January 3rd. Macquarie cut CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a research report on Tuesday, February 12th. Finally, Goldman Sachs Group cut CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $110.00 price target for the company. in a research report on Monday, January 14th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price 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 65,000 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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