Norway Savings Bank Purchases 1,695 Shares of Crown Castle Inc. (NYSE:CCI)

Norway Savings Bank grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 80.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,810 shares of the real estate investment trust’s stock after acquiring an additional 1,695 shares during the quarter. Norway Savings Bank’s holdings in Crown Castle were worth $403,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CCI. O Shaughnessy Asset Management LLC lifted its position in Crown Castle by 93.5% in the third quarter. O Shaughnessy Asset Management LLC now owns 17,099 shares of the real estate investment trust’s stock worth $1,574,000 after buying an additional 8,263 shares during the last quarter. Bank of Nova Scotia grew its holdings in Crown Castle by 13.6% during the 3rd quarter. Bank of Nova Scotia now owns 41,233 shares of the real estate investment trust’s stock valued at $3,795,000 after purchasing an additional 4,937 shares during the last quarter. Ancora Advisors LLC lifted its stake in Crown Castle by 62.8% in the third quarter. Ancora Advisors LLC now owns 7,682 shares of the real estate investment trust’s stock worth $707,000 after purchasing an additional 2,964 shares during the last quarter. Ironwood Investment Counsel LLC grew its stake in shares of Crown Castle by 18.7% during the third quarter. Ironwood Investment Counsel LLC now owns 11,675 shares of the real estate investment trust’s stock valued at $1,074,000 after buying an additional 1,840 shares during the last quarter. Finally, Fred Alger Management LLC raised its holdings in shares of Crown Castle by 37.7% in the third quarter. Fred Alger Management LLC now owns 44,167 shares of the real estate investment trust’s stock worth $4,065,000 after buying an additional 12,092 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $97.70 on Friday. The company has a market capitalization of $42.45 billion, a PE ratio of 30.53, a P/E/G ratio of 2.59 and a beta of 0.82. The company has a 50-day simple moving average of $98.42 and a two-hundred day simple moving average of $104.67. Crown Castle Inc. has a one year low of $84.72 and a one year high of $119.50. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.91 EPS. Research analysts expect that Crown Castle Inc. will post 6.62 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.26 annualized dividend and a yield of 6.41%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Wall Street Analysts Forecast Growth

CCI has been the topic of several research analyst reports. BMO Capital Markets cut their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research report on Thursday, April 18th. Barclays raised their price target on shares of Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Bank of America reduced their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Raymond James reissued an “outperform” rating and issued a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $114.21.

Crown Castle Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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.