WCM Investment Management LLC increased its stake in CROWN CASTLE IN/SH SH (NYSE:CCI) by 15.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,099,166 shares of the real estate investment trust’s stock after purchasing an additional 147,011 shares during the period. CROWN CASTLE IN/SH SH makes up approximately 0.9% of WCM Investment Management LLC’s portfolio, making the stock its 23rd biggest holding. WCM Investment Management LLC owned approximately 0.26% of CROWN CASTLE IN/SH SH worth $143,277,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of CCI. Commonwealth Bank of Australia boosted its stake in CROWN CASTLE IN/SH SH by 31.4% in the first quarter. Commonwealth Bank of Australia now owns 2,174,349 shares of the real estate investment trust’s stock worth $278,303,000 after buying an additional 519,210 shares in the last quarter. Argent Capital Management LLC purchased a new stake in CROWN CASTLE IN/SH SH in the first quarter worth approximately $51,756,000. California Public Employees Retirement System boosted its stake in CROWN CASTLE IN/SH SH by 18.8% in the first quarter. California Public Employees Retirement System now owns 2,460,798 shares of the real estate investment trust’s stock worth $314,982,000 after buying an additional 388,843 shares in the last quarter. Geode Capital Management LLC boosted its stake in CROWN CASTLE IN/SH SH by 8.2% in the fourth quarter. Geode Capital Management LLC now owns 4,929,209 shares of the real estate investment trust’s stock worth $534,436,000 after buying an additional 372,285 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of CROWN CASTLE IN/SH SH by 7.3% during the first quarter. Jennison Associates LLC now owns 4,904,370 shares of the real estate investment trust’s stock valued at $627,759,000 after purchasing an additional 332,614 shares during the period. Institutional investors own 91.39% of the company’s stock.
NYSE:CCI traded up $0.55 on Thursday, hitting $145.72. The stock had a trading volume of 26,327 shares, compared to its average volume of 1,838,867. The stock has a market cap of $60.49 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 1.66 and a beta of 0.33. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.99. The business’s 50-day simple moving average is $134.97 and its two-hundred day simple moving average is $128.18. CROWN CASTLE IN/SH SH has a 52-week low of $103.21 and a 52-week high of $145.72.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $1.125 per share. This represents a $4.50 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Thursday, September 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is currently 82.12%.
In other news, VP Robert Sean Collins sold 1,000 shares of CROWN CASTLE IN/SH SH stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $143.34, for a total transaction of $143,340.00. Following the sale, the vice president now owns 616 shares in the company, valued at $88,297.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Landis Martin bought 16,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average price of $127.33 per share, for a total transaction of $2,075,479.00. Following the transaction, the director now directly owns 130,617 shares of the company’s stock, valued at approximately $16,631,462.61. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by insiders.
A number of equities analysts recently commented on CCI shares. New Street Research downgraded CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 target price for the company. in a report on Thursday, June 13th. Bank of America reiterated a “buy” rating and issued a $151.00 price objective (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, August 14th. Morgan Stanley increased their price objective on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. upgraded CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $125.00 to $150.00 in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $128.50.
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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