Colony Group LLC Increases Stake in CROWN CASTLE IN/SH SH (CCI)

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Colony Group LLC grew its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 22.1% during the fourth quarter, HoldingsChannel reports. The firm owned 133,792 shares of the real estate investment trust’s stock after purchasing an additional 24,196 shares during the quarter. Colony Group LLC’s holdings in CROWN CASTLE IN/SH SH were worth $14,534,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Investment Advisory Services LLC bought a new stake in CROWN CASTLE IN/SH SH during the fourth quarter worth about $26,000. Covington Capital Management bought a new stake in CROWN CASTLE IN/SH SH during the fourth quarter worth about $29,000. Athena Capital Advisors LLC bought a new stake in CROWN CASTLE IN/SH SH during the fourth quarter worth about $33,000. Doyle Wealth Management bought a new stake in CROWN CASTLE IN/SH SH during the fourth quarter worth about $33,000. Finally, Quantamental Technologies LLC bought a new stake in CROWN CASTLE IN/SH SH during the fourth quarter worth about $42,000. 92.38% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CCI opened at $126.40 on Friday. The company has a market capitalization of $52.26 billion, a PE ratio of 23.07, a PEG ratio of 1.45 and a beta of 0.41. CROWN CASTLE IN/SH SH has a 52-week low of $98.85 and a 52-week high of $127.13. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.87 and a current ratio of 0.87.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its earnings results on Wednesday, January 23rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. CROWN CASTLE IN/SH SH had a net margin of 11.86% and a return on equity of 5.17%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. On average, research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.6 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $1.125 dividend. The ex-dividend date is Thursday, March 14th. This represents a $4.50 annualized dividend and a dividend yield of 3.56%. CROWN CASTLE IN/SH SH’s dividend payout ratio is presently 82.12%.

In other news, SVP Michael Joseph Kavanagh sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $120.06, for a total transaction of $300,150.00. Following the completion of the transaction, the senior vice president now directly owns 38,471 shares of the company’s stock, valued at $4,618,828.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward C. Hutcheson, Jr. acquired 350 shares of the firm’s stock in a transaction dated Friday, February 8th. The shares were bought at an average cost of $117.95 per share, with a total value of $41,282.50. Following the completion of the acquisition, the director now directly owns 59,187 shares of the company’s stock, valued at $6,981,106.65. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.

CCI has been the topic of several research reports. Raymond James raised shares of CROWN CASTLE IN/SH SH from a “mkt perform” rating to an “outperform” rating in a research note on Thursday, January 3rd. Goldman Sachs Group lowered shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $110.00 price objective on the stock. in a research note on Monday, January 14th. Wells Fargo & Co boosted their price objective on shares of CROWN CASTLE IN/SH SH from $123.00 to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 12th. Deutsche Bank downgraded shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating and set a $121.00 target price on the stock. in a research note on Monday. They noted that the move was a valuation call. Finally, TheStreet upgraded shares of CROWN CASTLE IN/SH SH from a “c+” rating to a “b” rating in a research note on Wednesday, January 23rd. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $120.58.

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About CROWN CASTLE IN/SH SH

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 65,000 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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Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CROWN CASTLE IN/SH SH (NYSE:CCI).

Institutional Ownership by Quarter for CROWN CASTLE IN/SH SH (NYSE:CCI)

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