Essex Savings Bank Raises Stock Holdings in CROWN CASTLE IN/SH SH (NYSE:CCI)

Essex Savings Bank lifted its stake in CROWN CASTLE IN/SH SH (NYSE:CCI) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,409 shares of the real estate investment trust’s stock after buying an additional 120 shares during the quarter. Essex Savings Bank’s holdings in CROWN CASTLE IN/SH SH were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of CCI. NovaPoint Capital LLC increased its position in shares of CROWN CASTLE IN/SH SH by 1.8% during the first quarter. NovaPoint Capital LLC now owns 3,613 shares of the real estate investment trust’s stock worth $522,000 after purchasing an additional 64 shares in the last quarter. Element Pointe Advisors LLC increased its position in CROWN CASTLE IN/SH SH by 1.8% during the 1st quarter. Element Pointe Advisors LLC now owns 3,782 shares of the real estate investment trust’s stock valued at $546,000 after buying an additional 67 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in CROWN CASTLE IN/SH SH by 7.1% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,009 shares of the real estate investment trust’s stock valued at $169,000 after buying an additional 67 shares in the last quarter. Steel Peak Wealth Management LLC raised its stake in CROWN CASTLE IN/SH SH by 4.1% in the first quarter. Steel Peak Wealth Management LLC now owns 1,732 shares of the real estate investment trust’s stock valued at $250,000 after buying an additional 68 shares during the last quarter. Finally, CX Institutional boosted its holdings in CROWN CASTLE IN/SH SH by 22.7% in the first quarter. CX Institutional now owns 389 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 72 shares in the last quarter. 90.90% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently commented on CCI shares. Credit Suisse Group started coverage on shares of CROWN CASTLE IN/SH SH in a research report on Tuesday, April 28th. They issued a “neutral” rating and a $149.00 price objective for the company. Barclays initiated coverage on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, July 15th. They issued an “overweight” rating and a $197.00 price target for the company. Morgan Stanley boosted their price objective on shares of CROWN CASTLE IN/SH SH from $177.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Royal Bank of Canada restated a “buy” rating on shares of CROWN CASTLE IN/SH SH in a research note on Thursday, May 7th. Finally, Wells Fargo & Co boosted their price target on CROWN CASTLE IN/SH SH from $185.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $168.08.

CCI stock traded down $3.51 during trading on Friday, hitting $166.70. 3,308,567 shares of the company traded hands, compared to its average volume of 2,005,608. The stock’s 50-day simple moving average is $168.02 and its 200 day simple moving average is $158.08. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.75 and a quick ratio of 0.47. The company has a market cap of $69.47 billion, a PE ratio of 92.61, a P/E/G ratio of 1.40 and a beta of 0.35. CROWN CASTLE IN/SH SH has a 1 year low of $114.18 and a 1 year high of $180.00.

CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09). The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.44 billion. CROWN CASTLE IN/SH SH had a net margin of 14.90% and a return on equity of 8.29%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.44 earnings per share. Research analysts expect that CROWN CASTLE IN/SH SH will post 5.81 earnings per share for the current year.

In other news, COO James D. Young sold 6,000 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $168.00, for a total value of $1,008,000.00. Following the sale, the chief operating officer now directly owns 198,679 shares of the company’s stock, valued at $33,378,072. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert Sean Collins sold 2,000 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $174.09, for a total value of $348,180.00. Following the completion of the sale, the vice president now directly owns 5,634 shares in the company, valued at $980,823.06. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock worth $2,125,480 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

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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