Teachers Insurance & Annuity Association of America reduced its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 25.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 287,061 shares of the real estate investment trust’s stock after selling 98,685 shares during the period. CROWN CASTLE IN/SH SH makes up approximately 4.4% of Teachers Insurance & Annuity Association of America’s holdings, making the stock its 3rd largest holding. Teachers Insurance & Annuity Association of America’s holdings in CROWN CASTLE IN/SH SH were worth $37,418,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Lindbrook Capital LLC lifted its holdings in shares of CROWN CASTLE IN/SH SH by 11.4% in the 2nd quarter. Lindbrook Capital LLC now owns 821 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 84 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in CROWN CASTLE IN/SH SH by 4.7% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,972 shares of the real estate investment trust’s stock valued at $257,000 after purchasing an additional 88 shares during the last quarter. Cornerstone Advisors Inc. raised its position in CROWN CASTLE IN/SH SH by 4.6% in the second quarter. Cornerstone Advisors Inc. now owns 2,045 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 89 shares during the period. RB Capital Management LLC lifted its stake in CROWN CASTLE IN/SH SH by 1.0% during the first quarter. RB Capital Management LLC now owns 9,000 shares of the real estate investment trust’s stock worth $1,152,000 after purchasing an additional 90 shares in the last quarter. Finally, National Asset Management Inc. lifted its stake in CROWN CASTLE IN/SH SH by 2.5% during the first quarter. National Asset Management Inc. now owns 3,673 shares of the real estate investment trust’s stock worth $473,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.
In related news, VP Robert Sean Collins sold 1,000 shares of the firm’s 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 transaction, the vice president now directly owns 616 shares in the company, valued at $88,297.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Landis Martin bought 16,300 shares of the stock in a transaction on Tuesday, July 23rd. The shares were acquired at an average price of $127.33 per share, with a total value of $2,075,479.00. Following the purchase, the director now owns 130,617 shares of the company’s stock, valued at $16,631,462.61. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.
CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.85). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.42 billion. CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. CROWN CASTLE IN/SH SH’s revenue for the quarter 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, equities research analysts predict that CROWN CASTLE IN/SH SH will post 5.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $1.125 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.50 annualized dividend and a dividend yield of 3.26%. CROWN CASTLE IN/SH SH’s dividend payout ratio is currently 82.12%.
CCI has been the topic of several research analyst reports. Bank of America reiterated a “buy” rating and issued a $151.00 price objective (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, August 14th. Citigroup dropped their price objective on shares of CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating for the company in a report on Monday. Morgan Stanley upped their target price on shares of CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. New Street Research lowered shares of CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 target price on the stock. in a report on Thursday, June 13th. Finally, JPMorgan Chase & Co. raised shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and raised their price target for the company from $125.00 to $150.00 in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $129.36.
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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