Wedbush Securities Inc. Reduces Position in CROWN CASTLE IN/SH SH (CCI)

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Wedbush Securities Inc. lowered its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 20.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,060 shares of the real estate investment trust’s stock after selling 3,450 shares during the period. Wedbush Securities Inc.’s holdings in CROWN CASTLE IN/SH SH were worth $1,672,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CI Investments Inc. grew its holdings in CROWN CASTLE IN/SH SH by 8.0% during the 3rd quarter. CI Investments Inc. now owns 82,275 shares of the real estate investment trust’s stock worth $9,160,000 after acquiring an additional 6,125 shares in the last quarter. Standard Life Aberdeen plc grew its holdings in CROWN CASTLE IN/SH SH by 6.4% during the 3rd quarter. Standard Life Aberdeen plc now owns 152,021 shares of the real estate investment trust’s stock worth $16,924,000 after acquiring an additional 9,127 shares in the last quarter. Vident Investment Advisory LLC grew its holdings in CROWN CASTLE IN/SH SH by 22.4% during the 3rd quarter. Vident Investment Advisory LLC now owns 4,597 shares of the real estate investment trust’s stock worth $512,000 after acquiring an additional 842 shares in the last quarter. Man Group plc grew its holdings in CROWN CASTLE IN/SH SH by 14.1% during the 3rd quarter. Man Group plc now owns 22,826 shares of the real estate investment trust’s stock worth $2,541,000 after acquiring an additional 2,826 shares in the last quarter. Finally, Mutual Advisors LLC boosted its holdings in shares of CROWN CASTLE IN/SH SH by 52.3% in the 3rd quarter. Mutual Advisors LLC now owns 3,577 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 1,228 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

In other CROWN CASTLE IN/SH SH news, Director Edward C. Hutcheson, Jr. purchased 350 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on Friday, February 8th. The stock was purchased at an average price of $117.95 per share, for a total transaction of $41,282.50. Following the transaction, the director now directly owns 59,187 shares in the company, valued at $6,981,106.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of the company’s stock in a transaction 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 sale, the senior vice president now owns 38,471 shares of the company’s stock, valued at approximately $4,618,828.26. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Several research analysts have recently issued reports on the stock. Wells Fargo & Co upped their target price on shares of CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the company an “outperform” rating in a report on Monday. TheStreet upgraded shares of CROWN CASTLE IN/SH SH from a “c+” rating to a “b” rating in a report on Wednesday, January 23rd. UBS Group cut shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 target price for the company. in a report on Thursday, April 11th. Guggenheim cut shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a report on Friday, April 12th. They noted that the move was a valuation call. Finally, Deutsche Bank cut shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating and set a $121.00 target price for the company. in a report on Monday, March 18th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. CROWN CASTLE IN/SH SH currently has an average rating of “Hold” and an average price target of $122.50.

CCI stock traded down $2.05 on Thursday, hitting $122.12. The company’s stock had a trading volume of 688,400 shares, compared to its average volume of 1,939,528. CROWN CASTLE IN/SH SH has a 1 year low of $98.85 and a 1 year high of $130.60. The company has a market cap of $51.60 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.47 and a beta of 0.42. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.87 and a quick ratio of 0.87.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.93). CROWN CASTLE IN/SH SH had a net margin of 11.86% and a return on equity of 5.17%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that CROWN CASTLE IN/SH SH will post 5.6 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $1.125 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.50 annualized dividend and a yield of 3.68%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is 82.12%.

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CROWN CASTLE IN/SH SH Company Profile

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.

See Also: Are Wall Street analysts’ stock ratings worth following?

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

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