CROWN CASTLE IN/SH SH (NYSE:CCI) Stock Position Reduced by Gofen & Glossberg LLC IL

Gofen & Glossberg LLC IL lessened its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,463 shares of the real estate investment trust’s stock after selling 95 shares during the period. Gofen & Glossberg LLC IL’s holdings in CROWN CASTLE IN/SH SH were worth $342,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. CX Institutional lifted its holdings in CROWN CASTLE IN/SH SH by 34.3% during the 3rd quarter. CX Institutional now owns 317 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 81 shares during the last quarter. Bogart Wealth LLC lifted its holdings in CROWN CASTLE IN/SH SH by 0.5% during the 3rd quarter. Bogart Wealth LLC now owns 21,132 shares of the real estate investment trust’s stock worth $2,938,000 after buying an additional 106 shares during the last quarter. RB Capital Management LLC lifted its holdings in CROWN CASTLE IN/SH SH by 5.2% during the 3rd quarter. RB Capital Management LLC now owns 9,541 shares of the real estate investment trust’s stock worth $1,311,000 after buying an additional 473 shares during the last quarter. Ellis Investment Partners LLC lifted its holdings in CROWN CASTLE IN/SH SH by 11.4% during the 3rd quarter. Ellis Investment Partners LLC now owns 1,073 shares of the real estate investment trust’s stock worth $146,000 after buying an additional 110 shares during the last quarter. Finally, Lucia Wealth Services LLC lifted its holdings in CROWN CASTLE IN/SH SH by 7.4% during the 3rd quarter. Lucia Wealth Services LLC now owns 15,397 shares of the real estate investment trust’s stock worth $2,140,000 after buying an additional 1,058 shares during the last quarter. 91.57% of the stock is currently owned by institutional investors.

In related news, VP Robert Sean Collins sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $143.34, for a total value of $143,340.00. Following the sale, the vice president now directly owns 616 shares in the company, valued at approximately $88,297.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director J Landis Martin bought 16,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $127.33 per share, for a total transaction of $2,075,479.00. Following the completion of the transaction, the director now owns 130,617 shares in the company, valued at $16,631,462.61. The disclosure for this purchase can be found here. Company insiders own 0.41% of the company’s stock.

Shares of NYSE CCI opened at $136.68 on Friday. The company has a market cap of $57.06 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 1.57 and a beta of 0.27. CROWN CASTLE IN/SH SH has a 12-month low of $103.21 and a 12-month high of $149.47. 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 stock’s 50 day simple moving average is $141.63 and its 200 day simple moving average is $133.42.

CROWN CASTLE IN/SH SH (NYSE:CCI) last announced 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 consensus estimate of $1.37 by ($0.85). The company had revenue of $1.48 billion during 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 company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. As a group, equities analysts forecast that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $1.125 dividend. This represents a $4.50 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Thursday, September 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.

A number of research firms have commented on CCI. Citigroup reduced their target price on 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. ValuEngine downgraded CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $125.00 to $150.00 in a report on Thursday, August 1st. Morgan Stanley increased their target price on 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. Finally, Bank of America reaffirmed a “buy” rating and set a $151.00 target price (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $131.83.

About CROWN CASTLE IN/SH SH

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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