Meadow Creek Investment Management LLC lifted its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 86.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,606 shares of the real estate investment trust’s stock after purchasing an additional 15,096 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in CROWN CASTLE IN/SH SH were worth $4,250,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Commonwealth Bank of Australia raised its stake in CROWN CASTLE IN/SH SH by 31.4% during the first quarter. Commonwealth Bank of Australia now owns 2,174,349 shares of the real estate investment trust’s stock valued at $278,303,000 after purchasing an additional 519,210 shares in the last quarter. Bahl & Gaynor Inc. lifted its holdings in shares of CROWN CASTLE IN/SH SH by 25.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,992,828 shares of the real estate investment trust’s stock valued at $259,766,000 after acquiring an additional 404,726 shares during the last quarter. Argent Capital Management LLC bought a new position in shares of CROWN CASTLE IN/SH SH in the 1st quarter valued at about $51,756,000. Geode Capital Management LLC lifted its holdings in shares of CROWN CASTLE IN/SH SH by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 4,929,209 shares of the real estate investment trust’s stock valued at $534,436,000 after acquiring an additional 372,285 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of CROWN CASTLE IN/SH SH by 7.3% in the 1st quarter. Jennison Associates LLC now owns 4,904,370 shares of the real estate investment trust’s stock valued at $627,759,000 after acquiring an additional 332,614 shares during the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.
Shares of CROWN CASTLE IN/SH SH stock traded down $0.40 during trading on Wednesday, hitting $138.92. 84,163 shares of the stock traded hands, compared to its average volume of 1,344,700. 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 stock’s fifty day simple moving average is $140.59 and its 200 day simple moving average is $130.90. The firm has a market cap of $57.92 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. CROWN CASTLE IN/SH SH has a 52-week low of $103.21 and a 52-week high of $149.47.
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. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.50 annualized dividend and a dividend yield of 3.24%. CROWN CASTLE IN/SH SH’s payout ratio is presently 82.12%.
Several research analysts recently commented on CCI shares. Bank of America reiterated a “buy” rating and issued a $151.00 price target (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a research report on Wednesday, August 14th. Morgan Stanley upped their price objective on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Citigroup lowered their target price on shares of CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating for the company in a research note on Monday. JPMorgan Chase & Co. upgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $125.00 to $150.00 in a research note on Thursday, August 1st. Finally, New Street Research lowered 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 report on Thursday, June 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $129.36.
In other CROWN CASTLE IN/SH SH news, Director J Landis Martin acquired 16,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average cost of $127.33 per share, with a total value of $2,075,479.00. Following the completion of the acquisition, the director now directly owns 130,617 shares in the company, valued at approximately $16,631,462.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert Sean Collins sold 1,000 shares of CROWN CASTLE IN/SH SH 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 transaction, the vice president now directly owns 616 shares in the company, valued at $88,297.44. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.
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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