CROWN CASTLE IN/SH SH (NYSE:CCI) Hits New 52-Week High at $137.86

Shares of CROWN CASTLE IN/SH SH (NYSE:CCI) reached a new 52-week high on Wednesday . The stock traded as high as $137.86 and last traded at $137.79, with a volume of 751284 shares traded. The stock had previously closed at $136.30.

CCI has been the subject of a number of research reports. Wells Fargo & Co boosted their price objective on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Guggenheim cut CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a research note on Friday, April 12th. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $125.00 to $150.00 in a research note on Thursday, August 1st. New Street Research cut CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price objective for the company. in a research note on Thursday, June 13th. Finally, Morgan Stanley boosted their price objective on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. CROWN CASTLE IN/SH SH presently has an average rating of “Hold” and a consensus price target of $126.70.

The company has a market capitalization of $55.91 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 1.55 and a beta of 0.33. 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 firm’s fifty day moving average is $132.47.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.85). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.42 billion. CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. As a group, analysts expect that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current year.

In other news, VP Robert Sean Collins sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total value of $150,228.00. Following the transaction, the vice president now owns 1,616 shares of the company’s stock, valued at $202,307.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J Landis Martin bought 16,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average cost of $127.33 per share, for a total transaction of $2,075,479.00. Following the acquisition, the director now 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. Insiders own 0.41% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Western Wealth Management LLC grew its holdings in CROWN CASTLE IN/SH SH by 9.7% during the first quarter. Western Wealth Management LLC now owns 3,463 shares of the real estate investment trust’s stock worth $443,000 after acquiring an additional 307 shares during the period. Hunter Associates Investment Management LLC grew its holdings in CROWN CASTLE IN/SH SH by 40.8% during the first quarter. Hunter Associates Investment Management LLC now owns 2,760 shares of the real estate investment trust’s stock worth $353,000 after acquiring an additional 800 shares during the period. Sterling Investment Management Inc. grew its holdings in CROWN CASTLE IN/SH SH by 7.2% during the first quarter. Sterling Investment Management Inc. now owns 23,409 shares of the real estate investment trust’s stock worth $2,996,000 after acquiring an additional 1,582 shares during the period. Union Bankshares Corp grew its holdings in CROWN CASTLE IN/SH SH by 32.8% during the first quarter. Union Bankshares Corp now owns 54,090 shares of the real estate investment trust’s stock worth $6,924,000 after acquiring an additional 13,362 shares during the period. Finally, Vantage Investment Partners LLC acquired a new position in CROWN CASTLE IN/SH SH during the first quarter worth $8,392,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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

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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