Gilbert & Cook Inc. Increases Stock Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

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Gilbert & Cook Inc. lifted its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 5.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,062 shares of the real estate investment trust’s stock after buying an additional 108 shares during the period. Gilbert & Cook Inc.’s holdings in CROWN CASTLE IN/SH SH were worth $287,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CCI. California Public Employees Retirement System increased its holdings in shares of CROWN CASTLE IN/SH SH by 22.6% in the 2nd quarter. California Public Employees Retirement System now owns 3,016,955 shares of the real estate investment trust’s stock worth $393,260,000 after buying an additional 556,157 shares during the last quarter. Bahl & Gaynor Inc. increased its holdings in shares of CROWN CASTLE IN/SH SH by 25.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,992,828 shares of the real estate investment trust’s stock worth $259,766,000 after buying an additional 404,726 shares during the last quarter. Commerce Bank grew its holdings in CROWN CASTLE IN/SH SH by 1,322.8% during the 2nd quarter. Commerce Bank now owns 262,111 shares of the real estate investment trust’s stock valued at $34,166,000 after purchasing an additional 243,689 shares during the last quarter. Vanguard Group Inc. grew its holdings in CROWN CASTLE IN/SH SH by 0.4% during the 2nd 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 purchasing an additional 207,370 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new position in CROWN CASTLE IN/SH SH during the 3rd quarter valued at about $27,983,000. Hedge funds and other institutional investors own 91.46% of the company’s stock.

In related news, COO Robert Carl Ackerman sold 10,500 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 7,806 shares in the company, valued at $1,119,614.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert Sean Collins sold 1,000 shares of the firm’s 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 of the company’s stock, valued at $88,297.44. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

CCI has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of 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. ValuEngine cut shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America restated a “buy” rating and set a $151.00 price target (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday, August 14th. Guggenheim set a $148.00 price objective on shares of CROWN CASTLE IN/SH SH and gave the stock a “hold” rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. upgraded shares of 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 research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $135.58.

Shares of NYSE:CCI traded down $1.10 during midday trading on Friday, hitting $130.81. The company’s stock had a trading volume of 2,231,595 shares, compared to its average volume of 1,876,144. The business’s 50 day simple moving average is $138.49 and its 200 day simple moving average is $134.97. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.76 and a current ratio of 0.72. The company has a market cap of $54.74 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 1.49 and a beta of 0.28. CROWN CASTLE IN/SH SH has a 12-month low of $103.21 and a 12-month high of $149.47.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.09. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. CROWN CASTLE IN/SH SH had a net margin of 16.12% and a return on equity of 8.07%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. On average, sell-side analysts predict that CROWN CASTLE IN/SH SH will post 5.69 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $1.20 dividend. 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 dividend yield of 3.67%. The ex-dividend date is Thursday, December 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is currently 82.12%.

CROWN CASTLE IN/SH SH 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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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 IN/SH SH (NYSE:CCI).

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

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