Ossiam boosted its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 461.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,203 shares of the real estate investment trust’s stock after buying an additional 5,099 shares during the quarter. Ossiam’s holdings in CROWN CASTLE IN/SH SH were worth $809,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ropes Wealth Advisors LLC acquired a new stake in CROWN CASTLE IN/SH SH in the 2nd quarter valued at $25,000. Kavar Capital Partners LLC purchased a new position in CROWN CASTLE IN/SH SH during the second quarter valued at $26,000. Manchester Capital Management LLC purchased a new position in CROWN CASTLE IN/SH SH during the second quarter valued at $26,000. Northern Oak Wealth Management Inc. acquired a new stake in shares of CROWN CASTLE IN/SH SH in the second quarter valued at about $31,000. Finally, Hanson McClain Inc. grew its position in shares of CROWN CASTLE IN/SH SH by 75.2% in the second quarter. Hanson McClain Inc. now owns 247 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 106 shares during the period. Institutional investors own 91.62% of the company’s stock.
Shares of NYSE:CCI traded down $0.64 during midday trading on Wednesday, hitting $138.68. The company’s stock had a trading volume of 964,785 shares, compared to its average volume of 1,344,700. The company has a market cap of $57.92 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. CROWN CASTLE IN/SH SH has a 12-month low of $103.21 and a 12-month high of $149.47. The business’s 50 day simple moving average is $140.59 and its 200 day simple moving average is $130.90. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.76 and a current ratio of 0.76.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Thursday, September 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio is currently 82.12%.
Several research firms recently weighed in on CCI. Citigroup reduced their price target on shares of CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating for the company in a research report on Monday. Morgan Stanley lifted 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. Bank of America reiterated a “buy” rating and set a $151.00 price objective (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday, August 14th. New Street Research cut 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. Finally, JPMorgan Chase & Co. upgraded CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and raised their target price for the company from $125.00 to $150.00 in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. CROWN CASTLE IN/SH SH currently has an average rating of “Hold” and an average target price of $129.36.
In related news, Director J Landis Martin acquired 16,300 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on 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 completion of the transaction, the director now owns 130,617 shares in the company, valued at approximately $16,631,462.61. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Sean Collins sold 1,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $143.34, for a total value of $143,340.00. Following the transaction, the vice president now directly owns 616 shares in the company, valued at approximately $88,297.44. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.
About CROWN CASTLE IN/SH SH
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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