Sompo Japan Nipponkoa Asset Management CO. LTD. Trims Stock Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

Sompo Japan Nipponkoa Asset Management CO. LTD. lowered its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 1.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 38,780 shares of the real estate investment trust’s stock after selling 720 shares during the period. CROWN CASTLE IN/SH SH makes up 1.5% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings, making the stock its 21st largest holding. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in CROWN CASTLE IN/SH SH were worth $5,600,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Pacifica Partners Inc. purchased a new position in CROWN CASTLE IN/SH SH during the fourth quarter valued at approximately $26,000. John W. Brooker & Co. CPAs purchased a new position in CROWN CASTLE IN/SH SH during the first quarter valued at approximately $27,000. Truvestments Capital LLC purchased a new position in CROWN CASTLE IN/SH SH during the first quarter valued at approximately $28,000. Sugarloaf Wealth Management LLC purchased a new position in CROWN CASTLE IN/SH SH during the fourth quarter valued at approximately $30,000. Finally, Ancora Advisors LLC purchased a new position in CROWN CASTLE IN/SH SH during the fourth quarter valued at approximately $32,000. 90.46% of the stock is owned by institutional investors.

In related news, EVP Michael Joseph Kavanagh sold 5,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $153.86, for a total transaction of $769,300.00. Following the completion of the sale, the executive vice president now directly owns 47,767 shares in the company, valued at approximately $7,349,430.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.47% of the company’s stock.

Shares of CCI traded up $5.37 during mid-day trading on Friday, reaching $156.20. The company’s stock had a trading volume of 1,874,020 shares, compared to its average volume of 2,021,127. The stock has a market cap of $62.86 billion, a PE ratio of 81.78, a P/E/G ratio of 1.24 and a beta of 0.34. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 2.30. CROWN CASTLE IN/SH SH has a 52 week low of $114.18 and a 52 week high of $168.75. The company’s fifty day moving average price is $156.81 and its two-hundred day moving average price is $147.02.

CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.11). The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.44 billion. CROWN CASTLE IN/SH SH had a return on equity of 8.39% and a net margin of 15.59%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.79 EPS 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 issued a dividend of $1.20 per share. The ex-dividend date is Thursday, June 11th. This represents a $4.80 dividend on an annualized basis and a yield of 3.07%. CROWN CASTLE IN/SH SH’s dividend payout ratio is currently 84.36%.

Several brokerages recently commented on CCI. UBS Group boosted their price objective on shares of CROWN CASTLE IN/SH SH from $137.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Royal Bank of Canada reiterated a “buy” rating on shares of CROWN CASTLE IN/SH SH in a research report on Thursday, May 7th. Morgan Stanley lifted their target price on shares of CROWN CASTLE IN/SH SH from $152.00 to $177.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. SunTrust Banks lifted their target price on shares of CROWN CASTLE IN/SH SH from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, New Street Research upgraded shares of CROWN CASTLE IN/SH SH from a “reduce” rating to a “neutral” rating in a research report on Thursday, March 12th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. CROWN CASTLE IN/SH SH has an average rating of “Buy” and a consensus target price of $156.08.

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.

See Also: What is required to own or exchange cryptocurrency?

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CROWN CASTLE IN/SH SH (NYSE:CCI).

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

Receive News & Ratings for CROWN CASTLE IN/SH SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CROWN CASTLE IN/SH SH and related companies with MarketBeat.com's FREE daily email newsletter.