Summit Securities Group LLC decreased its holdings in CROWN CASTLE IN/SH SH (NYSE:CCI) by 10.9% in the 1st quarter, HoldingsChannel reports. The fund owned 4,700 shares of the real estate investment trust’s stock after selling 577 shares during the quarter. Summit Securities Group LLC’s holdings in CROWN CASTLE IN/SH SH were worth $602,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Truewealth LLC grew its holdings in CROWN CASTLE IN/SH SH by 48.0% in the first quarter. Truewealth LLC now owns 256 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 83 shares during the last quarter. Strategic Investment Advisors MI grew its holdings in CROWN CASTLE IN/SH SH by 2.4% in the first quarter. Strategic Investment Advisors MI now owns 3,518 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 84 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in CROWN CASTLE IN/SH SH by 3.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,621 shares of the real estate investment trust’s stock valued at $335,000 after purchasing an additional 85 shares during the last quarter. RB Capital Management LLC grew its holdings in CROWN CASTLE IN/SH SH by 1.0% in the first quarter. RB Capital Management LLC now owns 9,000 shares of the real estate investment trust’s stock valued at $1,152,000 after purchasing an additional 90 shares during the last quarter. Finally, National Asset Management Inc. boosted its stake in shares of CROWN CASTLE IN/SH SH by 2.5% during the first quarter. National Asset Management Inc. now owns 3,673 shares of the real estate investment trust’s stock valued at $473,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 92.27% of the company’s stock.

A number of research firms recently commented on CCI. Morgan Stanley increased 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. Wells Fargo & Co increased 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. UBS Group lowered CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 price objective on the stock. in a research note on Thursday, April 11th. Bank of America increased their price objective on CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, Macquarie lowered CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 12th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $123.25.

NYSE:CCI traded up $1.32 during mid-day trading on Friday, reaching $129.01. The company’s stock had a trading volume of 46,495 shares, compared to its average volume of 1,856,596. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.91. CROWN CASTLE IN/SH SH has a twelve month low of $99.99 and a twelve month high of $130.60. The firm has a market cap of $52.65 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.44 and a beta of 0.40.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.93). CROWN CASTLE IN/SH SH had a return on equity of 6.31% and a net margin of 13.82%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business posted $0.21 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, research analysts forecast that CROWN CASTLE IN/SH SH will post 5.59 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $1.125 dividend. This represents a $4.50 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Thursday, June 13th. CROWN CASTLE IN/SH SH’s payout ratio is 82.12%.

In other news, VP Robert Sean Collins sold 1,200 shares of the firm’s stock in a transaction dated 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 directly owns 1,616 shares in the company, valued at approximately $202,307.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J Landis Martin acquired 18,350 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average price of $123.13 per share, for a total transaction of $2,259,435.50. Following the completion of the acquisition, the director now owns 120,717 shares in the company, valued at $14,863,884.21. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by company insiders.

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

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