Scott & Selber Inc. Buys 287 Shares of CROWN CASTLE IN/SH SH (NYSE:CCI)

Scott & Selber Inc. raised its stake in CROWN CASTLE IN/SH SH (NYSE:CCI) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,860 shares of the real estate investment trust’s stock after acquiring an additional 287 shares during the period. Scott & Selber Inc.’s holdings in CROWN CASTLE IN/SH SH were worth $2,067,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CCI. Western Wealth Management LLC grew its holdings in shares of CROWN CASTLE IN/SH SH by 9.7% during the first quarter. Western Wealth Management LLC now owns 3,463 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 307 shares during the last quarter. Hunter Associates Investment Management LLC grew its holdings in shares of CROWN CASTLE IN/SH SH by 40.8% during the first quarter. Hunter Associates Investment Management LLC now owns 2,760 shares of the real estate investment trust’s stock worth $353,000 after purchasing an additional 800 shares during the last quarter. Sterling Investment Management Inc. grew its holdings in shares of CROWN CASTLE IN/SH SH by 7.2% during the first quarter. Sterling Investment Management Inc. now owns 23,409 shares of the real estate investment trust’s stock worth $2,996,000 after purchasing an additional 1,582 shares during the last quarter. Vantage Investment Partners LLC bought a new stake in shares of CROWN CASTLE IN/SH SH during the first quarter worth $8,392,000. Finally, Ellis Investment Partners LLC bought a new stake in shares of CROWN CASTLE IN/SH SH during the first quarter worth $610,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Shares of NYSE:CCI traded up $0.34 during mid-day trading on Tuesday, reaching $141.84. 73,803 shares of the stock were exchanged, compared to its average volume of 2,220,142. 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 company has a market capitalization of $58.60 billion, a P/E ratio of 25.90, a P/E/G ratio of 1.78 and a beta of 0.33. CROWN CASTLE IN/SH SH has a one year low of $103.21 and a one year high of $142.14. The business’s 50 day moving average price is $132.97.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.85). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. CROWN CASTLE IN/SH SH had a return on equity of 7.00% and a net margin of 14.62%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, research analysts forecast that CROWN CASTLE IN/SH SH will post 5.11 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $1.125 per share. The ex-dividend date 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 payout ratio is presently 82.12%.

Several equities analysts have recently issued reports on CCI shares. Morgan Stanley upped their price target on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. New Street Research lowered CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price target on the stock. in a research note on Thursday, June 13th. JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and upped their price target for the company from $125.00 to $150.00 in a research note on Thursday, August 1st. Finally, Wells Fargo & Co upped their price target on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. CROWN CASTLE IN/SH SH presently has a consensus rating of “Hold” and an average price target of $126.70.

In related news, Director J Landis Martin purchased 16,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was purchased 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 directly owns 130,617 shares in the company, valued at $16,631,462.61. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert Sean Collins sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $125.19, for a total value of $150,228.00. Following the completion of the transaction, the vice president now owns 1,616 shares of the company’s stock, valued at $202,307.04. The disclosure for this sale can be found here. 0.41% 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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