CIBC World Markets Inc. Raises Holdings in CROWN CASTLE In/SH SH (CCI)

CIBC World Markets Inc. grew its position in shares of CROWN CASTLE In/SH SH (NYSE:CCI) by 324.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,106 shares of the real estate investment trust’s stock after purchasing an additional 8,491 shares during the quarter. CIBC World Markets Inc.’s holdings in CROWN CASTLE In/SH SH were worth $1,236,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CCI. Commonwealth Bank of Australia grew its holdings in shares of CROWN CASTLE In/SH SH by 1,321.9% during the second quarter. Commonwealth Bank of Australia now owns 2,760,722 shares of the real estate investment trust’s stock worth $282,092,000 after purchasing an additional 2,566,570 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of CROWN CASTLE In/SH SH by 372.5% during the third quarter. Jennison Associates LLC now owns 2,171,335 shares of the real estate investment trust’s stock worth $241,735,000 after purchasing an additional 1,711,765 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CROWN CASTLE In/SH SH by 18.5% during the second quarter. Dimensional Fund Advisors LP now owns 5,399,446 shares of the real estate investment trust’s stock worth $582,167,000 after purchasing an additional 844,554 shares during the last quarter. Artemis Investment Management LLP grew its holdings in shares of CROWN CASTLE In/SH SH by 13,985.0% during the third quarter. Artemis Investment Management LLP now owns 588,472 shares of the real estate investment trust’s stock worth $65,512,000 after purchasing an additional 584,294 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of CROWN CASTLE In/SH SH by 977.9% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 394,938 shares of the real estate investment trust’s stock worth $42,582,000 after purchasing an additional 358,300 shares during the last quarter. 94.09% of the stock is currently owned by institutional investors.

In related news, Director Langenfeld Cynthia K. Christy purchased 900 shares of the stock in a transaction that occurred on Monday, October 22nd. The shares were purchased at an average price of $106.19 per share, with a total value of $95,571.00. Following the completion of the acquisition, the director now directly owns 25,424 shares in the company, valued at approximately $2,699,774.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.36% of the company’s stock.

Several brokerages have issued reports on CCI. Morgan Stanley raised their price objective on CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, August 16th. Moffett Nathanson lowered CROWN CASTLE In/SH SH from a “buy” rating to a “neutral” rating and set a $118.00 price objective on the stock. in a report on Monday. ValuEngine lowered CROWN CASTLE In/SH SH from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. UBS Group set a $120.00 price objective on CROWN CASTLE In/SH SH and gave the stock a “buy” rating in a report on Friday, September 28th. Finally, Barclays raised their price objective on CROWN CASTLE In/SH SH from $110.00 to $112.00 and gave the stock an “equal weight” rating in a report on Friday, October 19th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. CROWN CASTLE In/SH SH presently has an average rating of “Buy” and an average target price of $118.11.

NYSE CCI opened at $113.70 on Tuesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.96 and a current ratio of 0.96. CROWN CASTLE In/SH SH has a 52-week low of $98.85 and a 52-week high of $115.33. The stock has a market cap of $47.67 billion, a P/E ratio of 21.64, a P/E/G ratio of 1.41 and a beta of 0.38.

CROWN CASTLE In/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.06. CROWN CASTLE In/SH SH had a return on equity of 4.22% and a net margin of 10.07%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company posted $0.21 earnings per share. The business’s revenue was up 29.4% on a year-over-year basis. Analysts predict that CROWN CASTLE In/SH SH will post 5.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be issued a dividend of $1.125 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $4.50 dividend on an annualized basis and a dividend yield of 3.96%. This is a positive change from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. CROWN CASTLE In/SH SH’s dividend payout ratio (DPR) is currently 86.60%.

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About CROWN CASTLE In/SH SH

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 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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