IBM Retirement Fund reduced its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 7.4% in the fourth quarter, HoldingsChannel reports. The firm owned 6,289 shares of the real estate investment trust’s stock after selling 499 shares during the period. IBM Retirement Fund’s holdings in CROWN CASTLE IN/SH SH were worth $683,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Strs Ohio increased its holdings in CROWN CASTLE IN/SH SH by 0.8% during the 4th quarter. Strs Ohio now owns 227,726 shares of the real estate investment trust’s stock worth $24,737,000 after purchasing an additional 1,715 shares in the last quarter. Fox Run Management L.L.C. increased its holdings in CROWN CASTLE IN/SH SH by 8.4% during the 4th quarter. Fox Run Management L.L.C. now owns 3,065 shares of the real estate investment trust’s stock worth $333,000 after purchasing an additional 238 shares in the last quarter. Shine Investment Advisory Services Inc. increased its holdings in CROWN CASTLE IN/SH SH by 10.7% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,088 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 105 shares in the last quarter. First Bank & Trust increased its holdings in CROWN CASTLE IN/SH SH by 13.9% during the 4th quarter. First Bank & Trust now owns 20,677 shares of the real estate investment trust’s stock worth $2,246,000 after purchasing an additional 2,518 shares in the last quarter. Finally, Paradigm Asset Management Co. LLC increased its holdings in CROWN CASTLE IN/SH SH by 7.0% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 24,400 shares of the real estate investment trust’s stock worth $2,716,000 after purchasing an additional 1,600 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

In other CROWN CASTLE IN/SH SH news, Director Edward C. Hutcheson, Jr. bought 350 shares of CROWN CASTLE IN/SH SH stock in a transaction dated Friday, February 8th. The stock was bought at an average cost of $117.95 per share, with a total value of $41,282.50. Following the completion of the acquisition, the director now directly owns 59,187 shares in the company, valued at approximately $6,981,106.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael Joseph Kavanagh sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $120.06, for a total value of $300,150.00. Following the completion of the transaction, the senior vice president now owns 38,471 shares in the company, valued at approximately $4,618,828.26. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

CCI stock opened at $125.03 on Friday. The company has a market capitalization of $51.95 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 1.43 and a beta of 0.41. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.87 and a quick ratio of 0.87. CROWN CASTLE IN/SH SH has a 12-month low of $98.85 and a 12-month high of $125.66.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its earnings results on Wednesday, January 23rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. CROWN CASTLE IN/SH SH had a return on equity of 5.17% and a net margin of 11.86%. CROWN CASTLE IN/SH SH’s quarterly revenue was up 14.6% on a year-over-year basis. Analysts anticipate that CROWN CASTLE IN/SH SH will post 5.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a $1.125 dividend. This represents a $4.50 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, March 14th. CROWN CASTLE IN/SH SH’s dividend payout ratio is presently 82.12%.

A number of brokerages have commented on CCI. Morgan Stanley boosted their price objective on CROWN CASTLE IN/SH SH from $120.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday, March 11th. Macquarie lowered CROWN CASTLE IN/SH SH from an “outperform” rating to a “neutral” rating in a report on Tuesday, February 12th. TheStreet raised CROWN CASTLE IN/SH SH from a “c+” rating to a “b” rating in a report on Wednesday, January 23rd. Zacks Investment Research raised CROWN CASTLE IN/SH SH from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Finally, Goldman Sachs Group lowered CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $110.00 price objective for the company. in a report on Monday, January 14th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $119.30.

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CROWN CASTLE IN/SH SH Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 65,000 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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