Eagle Ridge Investment Management Boosts Stock Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

Eagle Ridge Investment Management boosted its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 24.9% during the second quarter, Holdings Channel reports. The institutional investor owned 2,718 shares of the real estate investment trust’s stock after buying an additional 542 shares during the period. Eagle Ridge Investment Management’s holdings in CROWN CASTLE IN/SH SH were worth $354,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Comerica Securities Inc. lifted its position in CROWN CASTLE IN/SH SH by 4.4% during the 4th quarter. Comerica Securities Inc. now owns 6,920 shares of the real estate investment trust’s stock worth $752,000 after acquiring an additional 293 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in CROWN CASTLE IN/SH SH by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,123,320 shares of the real estate investment trust’s stock worth $665,173,000 after purchasing an additional 139,365 shares during the last quarter. Geode Capital Management LLC increased its holdings in CROWN CASTLE IN/SH SH by 8.2% during the 4th quarter. Geode Capital Management LLC now owns 4,929,209 shares of the real estate investment trust’s stock worth $534,436,000 after purchasing an additional 372,285 shares during the last quarter. First Manhattan Co. purchased a new stake in CROWN CASTLE IN/SH SH during the 1st quarter worth approximately $176,000. Finally, Nisa Investment Advisors LLC increased its holdings in CROWN CASTLE IN/SH SH by 14.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 129,375 shares of the real estate investment trust’s stock worth $16,560,000 after purchasing an additional 16,410 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Robert Sean Collins sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total value of $150,228.00. Following the completion of the sale, the vice president now directly owns 1,616 shares in the company, valued at approximately $202,307.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Landis Martin purchased 16,300 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average price 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 disclosure for this purchase can be found here. 0.41% of the stock is currently owned by insiders.

Shares of NYSE CCI traded up $2.84 during trading on Thursday, reaching $141.78. The stock had a trading volume of 32,070 shares, compared to its average volume of 2,182,189. CROWN CASTLE IN/SH SH has a one year low of $103.21 and a one year high of $142.24. 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 $57.97 billion, a PE ratio of 25.86, a PEG ratio of 1.62 and a beta of 0.33. The stock has a 50 day simple moving average of $133.21.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings results 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). CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the firm posted $0.36 earnings per share. CROWN CASTLE IN/SH SH’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $1.125 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.50 dividend on an annualized basis and a dividend yield of 3.17%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.

Several equities research analysts have issued reports on CCI shares. Morgan Stanley lifted their price objective on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. New Street Research downgraded CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price objective on the stock. in a report on Thursday, June 13th. JPMorgan Chase & Co. upgraded CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $125.00 to $150.00 in a report on Thursday, August 1st. Finally, Bank of America restated a “buy” rating and set a $151.00 price objective (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $128.50.

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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