Canton Hathaway LLC Increases Stake in CROWN CASTLE IN/SH SH (NYSE:CCI)

Canton Hathaway LLC lifted its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 5.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,949 shares of the real estate investment trust’s stock after buying an additional 234 shares during the quarter. Canton Hathaway LLC’s holdings in CROWN CASTLE IN/SH SH were worth $688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CX Institutional lifted its stake in shares of CROWN CASTLE IN/SH SH by 34.3% in the third quarter. CX Institutional now owns 317 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 81 shares in the last quarter. Lindbrook Capital LLC lifted its stake in shares of CROWN CASTLE IN/SH SH by 11.4% in the second quarter. Lindbrook Capital LLC now owns 821 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 84 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in shares of CROWN CASTLE IN/SH SH by 4.7% in the second quarter. Sunbelt Securities Inc. now owns 1,972 shares of the real estate investment trust’s stock worth $257,000 after buying an additional 88 shares in the last quarter. Cornerstone Advisors Inc. lifted its stake in shares of CROWN CASTLE IN/SH SH by 4.6% in the second quarter. Cornerstone Advisors Inc. now owns 2,045 shares of the real estate investment trust’s stock worth $267,000 after buying an additional 89 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. lifted its stake in shares of CROWN CASTLE IN/SH SH by 8.7% in the second quarter. Shine Investment Advisory Services Inc. now owns 1,183 shares of the real estate investment trust’s stock worth $154,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 91.57% of the company’s stock.

CROWN CASTLE IN/SH SH stock traded down $1.54 during midday trading on Friday, reaching $136.68. 1,851,818 shares of the company traded hands, compared to its average volume of 1,858,978. The firm has a market capitalization of $56.99 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 1.57 and a beta of 0.27. The business has a 50 day moving average of $141.77 and a two-hundred day moving average of $133.36. CROWN CASTLE IN/SH SH has a 12 month low of $103.21 and a 12 month high of $149.47. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.76 and a quick ratio of 0.76.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.85). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.36 EPS. As a group, equities analysts forecast that CROWN CASTLE IN/SH SH will post 5.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $1.125 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $4.50 dividend on an annualized basis and a yield of 3.29%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.

In other CROWN CASTLE IN/SH SH news, Director J Landis Martin purchased 16,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were 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 owns 130,617 shares of the company’s stock, valued at $16,631,462.61. The acquisition was disclosed in a filing with the SEC, which is accessible 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 transaction of $143,340.00. Following the completion of the transaction, the vice president now 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 owned by corporate insiders.

Several brokerages have recently issued reports on CCI. ValuEngine downgraded shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. 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. Guggenheim set a $148.00 target price on shares of CROWN CASTLE IN/SH SH and gave the stock a “hold” rating in a research note on Thursday, September 12th. Morgan Stanley upped their target price on shares of CROWN CASTLE IN/SH SH from $138.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Finally, New Street Research downgraded 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 research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $131.83.

CROWN CASTLE IN/SH SH Company 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.

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

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