Massey Quick Simon & CO. LLC Raises Stock Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

Massey Quick Simon & CO. LLC lifted its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,771 shares of the real estate investment trust’s stock after acquiring an additional 104 shares during the quarter. CROWN CASTLE IN/SH SH makes up approximately 0.9% of Massey Quick Simon & CO. LLC’s holdings, making the stock its 22nd biggest holding. Massey Quick Simon & CO. LLC’s holdings in CROWN CASTLE IN/SH SH were worth $2,053,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. California Public Employees Retirement System increased its holdings in CROWN CASTLE IN/SH SH by 22.6% during the second quarter. California Public Employees Retirement System now owns 3,016,955 shares of the real estate investment trust’s stock valued at $393,260,000 after buying an additional 556,157 shares during the period. Bahl & Gaynor Inc. increased its holdings in CROWN CASTLE IN/SH SH by 25.5% during the second quarter. Bahl & Gaynor Inc. now owns 1,992,828 shares of the real estate investment trust’s stock valued at $259,766,000 after buying an additional 404,726 shares during the period. Commerce Bank increased its holdings in CROWN CASTLE IN/SH SH by 1,322.8% during the second quarter. Commerce Bank now owns 262,111 shares of the real estate investment trust’s stock valued at $34,166,000 after buying an additional 243,689 shares during the period. Vanguard Group Inc. increased its holdings in CROWN CASTLE IN/SH SH by 0.4% during the second quarter. Vanguard Group Inc. now owns 54,057,163 shares of the real estate investment trust’s stock valued at $7,046,352,000 after buying an additional 207,370 shares during the period. Finally, First Trust Advisors LP increased its holdings in CROWN CASTLE IN/SH SH by 657.9% during the first quarter. First Trust Advisors LP now owns 198,057 shares of the real estate investment trust’s stock valued at $25,351,000 after buying an additional 171,923 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director J Landis Martin acquired 16,300 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average cost of $127.33 per share, for a total transaction of $2,075,479.00. Following the completion of the purchase, the director now owns 130,617 shares of the company’s stock, valued at approximately $16,631,462.61. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, VP Robert Sean Collins sold 1,000 shares of CROWN CASTLE IN/SH SH stock in a transaction 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 sale, the vice president now owns 616 shares of the company’s stock, valued at $88,297.44. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

NYSE CCI traded down $0.78 on Wednesday, hitting $133.87. The stock had a trading volume of 797,132 shares, compared to its average volume of 1,970,311. The business’s fifty day moving average price is $140.80 and its 200 day moving average price is $133.63. 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 has a 52-week low of $103.21 and a 52-week high of $149.47. The stock has a market cap of $56.83 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 1.56 and a beta of 0.27.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.85). CROWN CASTLE IN/SH SH had a return on equity of 7.00% and a net margin of 14.62%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. CROWN CASTLE IN/SH SH’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Stockholders of record on Friday, September 13th were paid a dividend of $1.125 per share. The ex-dividend date was Thursday, September 12th. This represents a $4.50 annualized dividend and a dividend yield of 3.36%. CROWN CASTLE IN/SH SH’s payout ratio is currently 82.12%.

Several equities analysts recently issued reports on CCI shares. Citigroup cut their price objective on shares of CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Bank of America reaffirmed a “buy” rating and issued a $151.00 price target (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, August 14th. Morgan Stanley lifted their price target on shares of CROWN CASTLE IN/SH SH from $138.00 to $149.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Guggenheim set a $148.00 price target on shares of CROWN CASTLE IN/SH SH and gave the stock a “hold” rating in a report on Thursday, September 12th. Finally, ValuEngine lowered shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. 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. CROWN CASTLE IN/SH SH presently has an average rating of “Hold” and a consensus 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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