Crown Castle Inc. (NYSE:CCI) Stake Lifted by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership boosted its position in shares of Crown Castle Inc. (NYSE:CCI) by 15.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,859 shares of the real estate investment trust’s stock after purchasing an additional 19,641 shares during the quarter. Crown Castle comprises about 6.0% of Foresight Group Ltd Liability Partnership’s portfolio, making the stock its 8th biggest position. Foresight Group Ltd Liability Partnership’s holdings in Crown Castle were worth $14,055,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Crown Castle in the 4th quarter valued at $25,000. EntryPoint Capital LLC purchased a new position in shares of Crown Castle in the 1st quarter valued at $27,000. Asset Dedication LLC increased its holdings in shares of Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the period. Richardson Financial Services Inc. purchased a new position in shares of Crown Castle in the 4th quarter valued at $30,000. Finally, Beacon Capital Management LLC increased its holdings in shares of Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 177 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Shares of CCI stock opened at $117.78 on Thursday. The stock has a market cap of $51.18 billion, a PE ratio of 36.81 and a beta of 0.85. The business has a 50-day simple moving average of $111.09 and a 200-day simple moving average of $104.01. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $120.92.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 EPS. On average, equities analysts expect that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $1.565 dividend. The ex-dividend date is Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.31%. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Insider Activity

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value of $1,128,784.76. Following the completion of the transaction, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on Crown Castle in a research report on Monday, July 1st. They issued a “neutral” rating and a $104.00 price objective for the company. BMO Capital Markets raised their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Finally, TD Cowen raised their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Crown Castle has an average rating of “Hold” and a consensus price target of $113.53.

About Crown Castle

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.