Hilltop Holdings Inc. trimmed its position in CROWN CASTLE IN/SH SH (NYSE:CCI) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,250 shares of the real estate investment trust’s stock after selling 1,144 shares during the quarter. Hilltop Holdings Inc.’s holdings in CROWN CASTLE IN/SH SH were worth $2,118,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CCI. Ropes Wealth Advisors LLC acquired a new stake in shares of CROWN CASTLE IN/SH SH in the second quarter valued at about $25,000. Kavar Capital Partners LLC acquired a new stake in shares of CROWN CASTLE IN/SH SH in the second quarter valued at about $26,000. Manchester Capital Management LLC acquired a new stake in shares of CROWN CASTLE IN/SH SH in the second quarter valued at about $26,000. Northern Oak Wealth Management Inc. acquired a new stake in shares of CROWN CASTLE IN/SH SH in the second quarter valued at about $31,000. Finally, Hanson McClain Inc. grew its stake in shares of 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 buying an additional 106 shares in the last quarter. Institutional investors own 91.57% of the company’s stock.
Shares of NYSE CCI opened at $141.30 on Friday. CROWN CASTLE IN/SH SH has a fifty-two week low of $103.21 and a fifty-two week high of $149.47. The business has a 50 day moving average price of $142.00 and a two-hundred day moving average price of $131.68. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.99. The firm has a market cap of $59.24 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 1.63 and a beta of 0.27.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $1.125 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.50 dividend on an annualized basis and a yield of 3.18%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is presently 82.12%.
In other news, Director J Landis Martin bought 16,300 shares of CROWN CASTLE IN/SH SH stock in a transaction on Tuesday, July 23rd. The shares were bought at an average price of $127.33 per share, with a total value 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Sean Collins sold 1,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $143.34, for a total value of $143,340.00. Following the transaction, the vice president now directly owns 616 shares in the company, valued at approximately $88,297.44. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.
A number of research firms have recently issued reports on CCI. Citigroup lowered their target price on 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, September 9th. JPMorgan Chase & Co. upgraded CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and increased their target price for the company from $125.00 to $150.00 in a research note on Thursday, August 1st. Guggenheim set a $148.00 target price on CROWN CASTLE IN/SH SH and gave the company a “hold” rating in a research note on Thursday, September 12th. Bank of America reiterated a “buy” rating and issued a $151.00 target price (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday, August 14th. Finally, Morgan Stanley increased their target price on CROWN CASTLE IN/SH SH from $138.00 to $149.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $131.83.
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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