CROWN CASTLE IN/SH SH (NYSE:CCI) Shares Acquired by Cbre Clarion Securities LLC
Cbre Clarion Securities LLC increased its stake in CROWN CASTLE IN/SH SH (NYSE:CCI) by 2.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,172,775 shares of the real estate investment trust’s stock after buying an additional 31,050 shares during the quarter. CROWN CASTLE IN/SH SH comprises 4.7% of Cbre Clarion Securities LLC’s portfolio, making the stock its 4th largest position. Cbre Clarion Securities LLC owned about 0.28% of CROWN CASTLE IN/SH SH worth $169,349,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of CCI. Norges Bank acquired a new position in shares of CROWN CASTLE IN/SH SH in the 4th quarter worth approximately $537,278,000. Franklin Resources Inc. grew its position in shares of CROWN CASTLE IN/SH SH by 129.6% in the 4th quarter. Franklin Resources Inc. now owns 2,311,105 shares of the real estate investment trust’s stock worth $328,524,000 after acquiring an additional 1,304,388 shares in the last quarter. Prudential PLC acquired a new position in shares of CROWN CASTLE IN/SH SH in the 1st quarter worth approximately $84,619,000. Janus Henderson Group PLC grew its position in shares of CROWN CASTLE IN/SH SH by 6.0% in the 4th quarter. Janus Henderson Group PLC now owns 9,422,387 shares of the real estate investment trust’s stock worth $1,339,368,000 after acquiring an additional 534,010 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of CROWN CASTLE IN/SH SH by 20.6% in the 1st quarter. Swiss National Bank now owns 2,065,771 shares of the real estate investment trust’s stock worth $298,297,000 after acquiring an additional 352,700 shares in the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.
In related news, EVP Michael Joseph Kavanagh sold 5,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $153.86, for a total transaction of $769,300.00. Following the transaction, the executive vice president now directly owns 47,767 shares in the company, valued at $7,349,430.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.47% of the company’s stock.
CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.11). CROWN CASTLE IN/SH SH had a return on equity of 8.39% and a net margin of 15.59%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the firm posted $0.44 EPS. CROWN CASTLE IN/SH SH’s revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts expect that CROWN CASTLE IN/SH SH will post 5.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 12th will be paid a dividend of $1.20 per share. The ex-dividend date is Thursday, June 11th. This represents a $4.80 annualized dividend and a yield of 2.75%. CROWN CASTLE IN/SH SH’s dividend payout ratio is 84.36%.
Several research analysts have recently commented on the company. New Street Research upgraded CROWN CASTLE IN/SH SH from a “reduce” rating to a “neutral” rating in a research report on Thursday, March 12th. Citigroup raised their price target on CROWN CASTLE IN/SH SH from $147.00 to $176.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada reissued a “buy” rating on shares of CROWN CASTLE IN/SH SH in a report on Thursday, May 7th. Credit Suisse Group started coverage on CROWN CASTLE IN/SH SH in a report on Tuesday, April 28th. They issued a “neutral” rating and a $149.00 price target on the stock. Finally, Raymond James reissued a “hold” rating on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $156.25.
CROWN CASTLE IN/SH SH 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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