CROWN CASTLE IN/SH SH (NYSE:CCI) Position Reduced by D.A. Davidson & CO.

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D.A. Davidson & CO. decreased its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 11.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,064 shares of the real estate investment trust’s stock after selling 822 shares during the period. D.A. Davidson & CO.’s holdings in CROWN CASTLE IN/SH SH were worth $843,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of CROWN CASTLE IN/SH SH by 0.4% in the second quarter. Vanguard Group Inc. now owns 54,057,163 shares of the real estate investment trust’s stock valued at $7,046,352,000 after buying an additional 207,370 shares in the last quarter. Magellan Asset Management Ltd increased its holdings in shares of CROWN CASTLE IN/SH SH by 0.8% in the second quarter. Magellan Asset Management Ltd now owns 12,357,664 shares of the real estate investment trust’s stock valued at $1,610,822,000 after buying an additional 99,687 shares in the last quarter. Northern Trust Corp increased its holdings in shares of CROWN CASTLE IN/SH SH by 0.9% in the second quarter. Northern Trust Corp now owns 5,629,253 shares of the real estate investment trust’s stock valued at $733,773,000 after buying an additional 50,909 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of CROWN CASTLE IN/SH SH by 10.9% in the third quarter. California Public Employees Retirement System now owns 3,346,532 shares of the real estate investment trust’s stock valued at $465,201,000 after buying an additional 329,577 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its holdings in shares of CROWN CASTLE IN/SH SH by 25.5% in the second quarter. Bahl & Gaynor Inc. now owns 1,992,828 shares of the real estate investment trust’s stock valued at $259,766,000 after buying an additional 404,726 shares in the last quarter. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:CCI opened at $134.68 on Friday. The company’s fifty day moving average is $137.38 and its two-hundred day moving average is $135.24. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.05. 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 market cap of $55.58 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 1.52 and a beta of 0.28.

CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. CROWN CASTLE IN/SH SH had a net margin of 16.12% and a return on equity of 8.07%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $0.33 EPS. The company’s revenue was up 10.1% on a year-over-year basis. Equities research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.69 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $1.20 per share. This is an increase from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, December 12th. CROWN CASTLE IN/SH SH’s payout ratio is 82.12%.

In other news, COO Robert Carl Ackerman sold 10,500 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $143.43, for a total transaction of $1,506,015.00. Following the transaction, the chief operating officer now directly owns 7,806 shares in the company, valued at approximately $1,119,614.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director J Landis Martin purchased 1,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were bought at an average price of $130.62 per share, for a total transaction of $130,620.00. Following the completion of the acquisition, the director now owns 131,617 shares in the company, valued at $17,191,812.54. The disclosure for this purchase can be found here. Insiders own 0.41% of the company’s stock.

CCI has been the topic of several research reports. ValuEngine cut CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley upped their price target on CROWN CASTLE IN/SH SH from $138.00 to $149.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Citigroup dropped their price target 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. JPMorgan Chase & Co. raised shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $125.00 to $150.00 in a research note on Thursday, August 1st. Finally, SunTrust Banks boosted their target price on shares of CROWN CASTLE IN/SH SH from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. CROWN CASTLE IN/SH SH has a consensus rating of “Hold” and an average target price of $135.58.

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

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