Sumitomo Mitsui DS Asset Management Company Ltd Has $5.52 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Crown Castle Inc. (NYSE:CCIGet Rating) by 6.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,775 shares of the real estate investment trust’s stock after purchasing an additional 2,055 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Crown Castle were worth $5,519,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Crown Castle by 15.3% during the 4th quarter. BlackRock Inc. now owns 37,010,877 shares of the real estate investment trust’s stock worth $7,725,650,000 after acquiring an additional 4,919,828 shares during the last quarter. Norges Bank bought a new stake in Crown Castle during the 4th quarter worth approximately $815,548,000. State Street Corp grew its holdings in Crown Castle by 6.4% during the 1st quarter. State Street Corp now owns 20,925,592 shares of the real estate investment trust’s stock worth $3,862,864,000 after acquiring an additional 1,261,426 shares during the last quarter. Vanguard Group Inc. grew its holdings in Crown Castle by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 56,909,352 shares of the real estate investment trust’s stock worth $10,505,466,000 after acquiring an additional 1,015,352 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Crown Castle by 82.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,463,883 shares of the real estate investment trust’s stock worth $270,233,000 after acquiring an additional 662,907 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Down 1.3 %

Shares of NYSE CCI opened at $161.34 on Wednesday. The firm has a market cap of $69.87 billion, a PE ratio of 45.32 and a beta of 0.60. Crown Castle Inc. has a 12-month low of $153.70 and a 12-month high of $209.87. The company’s fifty day simple moving average is $174.24 and its 200 day simple moving average is $177.89. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.70.

Crown Castle (NYSE:CCIGet Rating) last issued its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.74). The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.71 billion. Crown Castle had a return on equity of 18.93% and a net margin of 22.91%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.71 earnings per share. As a group, sell-side analysts forecast that Crown Castle Inc. will post 7.03 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $1.47 per share. The ex-dividend date is Wednesday, September 14th. This represents a $5.88 annualized dividend and a yield of 3.64%. Crown Castle’s payout ratio is 165.17%.

Insiders Place Their Bets

In other Crown Castle news, Director Kevin A. Stephens acquired 699 shares of the stock in a transaction on Friday, July 22nd. The shares were purchased at an average price of $173.60 per share, for a total transaction of $121,346.40. Following the completion of the acquisition, the director now owns 10,703 shares in the company, valued at approximately $1,858,040.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of research reports. StockNews.com raised shares of Crown Castle from a “hold” rating to a “buy” rating in a report on Friday, August 12th. Raymond James reduced their target price on shares of Crown Castle from $206.00 to $201.00 in a report on Friday, July 22nd. Morgan Stanley reduced their price objective on shares of Crown Castle from $190.00 to $188.00 and set an “overweight” rating on the stock in a research note on Friday, September 16th. Barclays reduced their price objective on shares of Crown Castle from $214.00 to $212.00 and set an “overweight” rating on the stock in a research note on Friday, August 26th. Finally, Cowen reduced their price objective on shares of Crown Castle to $195.00 in a research note on Friday, July 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Crown Castle has an average rating of “Moderate Buy” and an average target price of $195.20.

Crown Castle Company Profile

(Get Rating)

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

Recommended Stories

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 Inc. (NYSE:CCIGet Rating).

Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

Receive News & Ratings for Crown Castle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle and related companies with MarketBeat.com's FREE daily email newsletter.