First Bank & Trust lifted its holdings in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,908 shares of the real estate investment trust’s stock after buying an additional 231 shares during the period. CROWN CASTLE IN/SH SH comprises 2.1% of First Bank & Trust’s investment portfolio, making the stock its 3rd biggest holding. First Bank & Trust’s holdings in CROWN CASTLE IN/SH SH were worth $2,676,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. CX Institutional grew its holdings in shares of CROWN CASTLE IN/SH SH by 160.7% in the 1st quarter. CX Institutional now owns 232 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 143 shares during the period. Capital Investment Advisory Services LLC acquired a new stake in CROWN CASTLE IN/SH SH during the 4th quarter valued at $26,000. Covington Capital Management acquired a new stake in CROWN CASTLE IN/SH SH during the 4th quarter valued at $29,000. Athena Capital Advisors LLC acquired a new stake in CROWN CASTLE IN/SH SH during the 4th quarter valued at $33,000. Finally, Doyle Wealth Management acquired a new stake in CROWN CASTLE IN/SH SH during the 4th quarter valued at $33,000. 93.18% of the stock is owned by institutional investors and hedge funds.
Shares of CCI traded down $1.79 during trading hours on Monday, hitting $127.08. The stock had a trading volume of 21,233 shares, compared to its average volume of 1,867,035. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $53.55 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. CROWN CASTLE IN/SH SH has a 12-month low of $98.85 and a 12-month high of $130.60.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $1.125 dividend. This represents a $4.50 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Thursday, March 14th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is currently 82.12%.
In related news, Director Edward C. Hutcheson, Jr. acquired 350 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 59,187 shares of the company’s stock, valued at approximately $6,981,106.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $120.06, for a total value of $300,150.00. Following the completion of the transaction, the senior vice president now directly owns 38,471 shares in the company, valued at $4,618,828.26. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
Several research firms have recently issued reports on CCI. Raymond James upgraded CROWN CASTLE IN/SH SH from a “mkt perform” rating to an “outperform” rating in a report on Thursday, January 3rd. Goldman Sachs Group cut 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 report on Monday, January 14th. Deutsche Bank cut CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating and set a $121.00 price objective on the stock. in a report on Monday, March 18th. They noted that the move was a valuation call. TheStreet upgraded CROWN CASTLE IN/SH SH from a “c+” rating to a “b” rating in a report on Wednesday, January 23rd. Finally, Wells Fargo & Co restated an “outperform” rating and set a $142.00 price objective (up previously from $129.00) on shares of CROWN CASTLE IN/SH SH in a report on Monday. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. CROWN CASTLE IN/SH SH has a consensus rating of “Hold” and a consensus target price of $122.50.
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.
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