MainStreet Investment Advisors LLC Takes $438,000 Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

MainStreet Investment Advisors LLC acquired a new stake in CROWN CASTLE IN/SH SH (NYSE:CCI) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 3,030 shares of the real estate investment trust’s stock, valued at approximately $438,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in shares of CROWN CASTLE IN/SH SH by 31.8% in the 4th quarter. Acadian Asset Management LLC now owns 7,907 shares of the real estate investment trust’s stock valued at $1,124,000 after acquiring an additional 1,908 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in CROWN CASTLE IN/SH SH by 12.6% in the 4th quarter. Great Lakes Advisors LLC now owns 2,281 shares of the real estate investment trust’s stock valued at $324,000 after purchasing an additional 256 shares during the last quarter. Magellan Asset Management Ltd lifted its stake in CROWN CASTLE IN/SH SH by 1.7% in the 4th quarter. Magellan Asset Management Ltd now owns 12,820,052 shares of the real estate investment trust’s stock valued at $1,822,370,000 after purchasing an additional 213,426 shares during the last quarter. First American Bank acquired a new stake in CROWN CASTLE IN/SH SH in the 4th quarter valued at about $4,488,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in CROWN CASTLE IN/SH SH by 394.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 7,013 shares of the real estate investment trust’s stock valued at $997,000 after purchasing an additional 5,595 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

Several brokerages recently issued reports on CCI. Oppenheimer upgraded shares of CROWN CASTLE IN/SH SH from a “market perform” rating to an “outperform” rating and set a $175.00 target price for the company in a research note on Friday. Citigroup raised their target price on shares of CROWN CASTLE IN/SH SH from $147.00 to $176.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Co raised their target price on shares of CROWN CASTLE IN/SH SH from $156.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Raymond James reiterated a “hold” rating on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday, February 12th. Finally, Morgan Stanley raised their price objective on shares of CROWN CASTLE IN/SH SH from $152.00 to $177.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $156.08.

Shares of CCI traded up $5.37 during mid-day trading on Friday, hitting $156.20. 1,874,020 shares of the company’s stock were exchanged, compared to its average volume of 2,021,127. CROWN CASTLE IN/SH SH has a 52 week low of $114.18 and a 52 week high of $168.75. The stock’s 50-day simple moving average is $156.81 and its 200-day simple moving average is $147.02. The firm has a market cap of $62.86 billion, a price-to-earnings ratio of 81.78, a price-to-earnings-growth ratio of 1.24 and a beta of 0.34. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 2.30.

CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.38 EPS for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $1.44 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts forecast that CROWN CASTLE IN/SH SH will post 5.79 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $4.80 annualized dividend and a dividend yield of 3.07%. CROWN CASTLE IN/SH SH’s dividend payout ratio is presently 84.36%.

In related news, EVP Michael Joseph Kavanagh sold 5,000 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $153.86, for a total value of $769,300.00. Following the transaction, the executive vice president now directly owns 47,767 shares of the company’s stock, valued at $7,349,430.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is currently owned by company insiders.

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

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