Argent Capital Management LLC Cuts Position in CROWN CASTLE IN/SH SH (NYSE:CCI)

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Argent Capital Management LLC cut its stake in CROWN CASTLE IN/SH SH (NYSE:CCI) by 7.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 376,070 shares of the real estate investment trust’s stock after selling 28,274 shares during the quarter. CROWN CASTLE IN/SH SH comprises about 1.9% of Argent Capital Management LLC’s portfolio, making the stock its 20th biggest position. Argent Capital Management LLC owned approximately 0.09% of CROWN CASTLE IN/SH SH worth $49,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Lindbrook Capital LLC increased its holdings in shares of CROWN CASTLE IN/SH SH by 11.4% in the 2nd quarter. Lindbrook Capital LLC now owns 821 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 84 shares during the period. Sunbelt Securities Inc. boosted its position in shares of CROWN CASTLE IN/SH SH by 4.7% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,972 shares of the real estate investment trust’s stock worth $257,000 after purchasing an additional 88 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in shares of CROWN CASTLE IN/SH SH by 4.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 2,045 shares of the real estate investment trust’s stock worth $267,000 after purchasing an additional 89 shares in the last quarter. National Asset Management Inc. boosted its position in shares of CROWN CASTLE IN/SH SH by 2.5% in the 1st quarter. National Asset Management Inc. now owns 3,673 shares of the real estate investment trust’s stock worth $473,000 after purchasing an additional 91 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. boosted its position in shares of CROWN CASTLE IN/SH SH by 8.7% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,183 shares of the real estate investment trust’s stock worth $154,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 91.57% of the company’s stock.

In other news, Director J Landis Martin acquired 16,300 shares of the business’s stock in a transaction on 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 purchase, the director now owns 130,617 shares in the company, valued at $16,631,462.61. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert Sean Collins sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $143.34, for a total value 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. 0.41% of the stock is owned by insiders.

Shares of CCI stock traded down $0.66 on Friday, hitting $140.58. The company had a trading volume of 2,080,745 shares, compared to its average volume of 1,621,127. The firm has a market cap of $58.72 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 1.62 and a beta of 0.27. The company has a 50-day moving average price of $142.13 and a 200-day moving average price of $131.79. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.99. CROWN CASTLE IN/SH SH has a twelve month low of $103.21 and a twelve month high of $149.47.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.85). CROWN CASTLE IN/SH SH had a net margin of 14.62% and a return on equity of 7.00%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm earned $0.36 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts expect that CROWN CASTLE IN/SH SH will post 5.64 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $1.125 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.50 annualized dividend and a dividend yield of 3.20%. CROWN CASTLE IN/SH SH’s dividend payout ratio is presently 82.12%.

A number of analysts have recently weighed in on the company. Guggenheim set a $148.00 price objective on CROWN CASTLE IN/SH SH and gave the stock a “hold” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $125.00 to $150.00 in a research report on Thursday, August 1st. Citigroup lowered their price target on CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. 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 report on Thursday. Finally, Bank of America reaffirmed 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 report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $131.83.

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.

See Also: Net Margin – Understanding the Different Kinds of Profit

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

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