Waratah Capital Advisors Ltd. Trims Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

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Waratah Capital Advisors Ltd. decreased its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 59.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,922 shares of the real estate investment trust’s stock after selling 148,096 shares during the quarter. CROWN CASTLE IN/SH SH makes up about 1.6% of Waratah Capital Advisors Ltd.’s portfolio, making the stock its 20th biggest holding. Waratah Capital Advisors Ltd.’s holdings in CROWN CASTLE IN/SH SH were worth $14,029,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in CCI. Ropes Wealth Advisors LLC bought a new stake in CROWN CASTLE IN/SH SH in the second quarter worth about $25,000. Kavar Capital Partners LLC acquired a new position in shares of CROWN CASTLE IN/SH SH in the second quarter worth $26,000. Manchester Capital Management LLC purchased a new stake in shares of CROWN CASTLE IN/SH SH during the second quarter worth $26,000. City Holding Co. increased its position in shares of CROWN CASTLE IN/SH SH by 655.6% during the third quarter. City Holding Co. now owns 204 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 177 shares during the period. Finally, Northern Oak Wealth Management Inc. purchased a new stake in shares of CROWN CASTLE IN/SH SH during the second quarter worth $31,000. 91.86% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on CCI shares. Bank of America reiterated a “buy” rating and issued a $151.00 target price (up from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, August 14th. SunTrust Banks raised their price target on CROWN CASTLE IN/SH SH from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Morgan Stanley lifted their price target on CROWN CASTLE IN/SH SH from $138.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Zacks Investment Research raised CROWN CASTLE IN/SH SH from a “hold” rating to a “buy” rating and set a $139.00 price target for the company in a research note on Wednesday, November 27th. Finally, ValuEngine lowered shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $135.85.

Shares of NYSE CCI traded up $2.90 during trading on Tuesday, reaching $133.85. The company had a trading volume of 46,508 shares, compared to its average volume of 2,196,096. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.05. CROWN CASTLE IN/SH SH has a twelve month low of $103.21 and a twelve month high of $149.47. The stock has a 50-day moving average price of $136.00 and a two-hundred day moving average price of $136.00. The stock has a market capitalization of $55.57 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 1.52 and a beta of 0.25.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.59%. This is a positive change from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Thursday, December 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio is 82.12%.

In other news, Director J Landis Martin acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average price of $130.62 per share, with a total value of $130,620.00. Following the completion of the transaction, the director now directly owns 131,617 shares in the company, valued at approximately $17,191,812.54. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Robert Carl Ackerman sold 10,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 7,806 shares in the company, valued at approximately $1,119,614.58. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

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

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