Meiji Yasuda Asset Management Co Ltd. Has $3.43 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 6.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,103 shares of the real estate investment trust’s stock after purchasing an additional 2,201 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Crown Castle were worth $3,430,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CCI. Prosperity Consulting Group LLC lifted its position in Crown Castle by 4.4% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 95 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Crown Castle by 12.8% during the first quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 108 shares during the last quarter. Gilbert & Cook Inc. grew its stake in Crown Castle by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock valued at $355,000 after purchasing an additional 110 shares in the last quarter. Benedict Financial Advisors Inc. increased its position in shares of Crown Castle by 4.0% during the 1st quarter. Benedict Financial Advisors Inc. now owns 2,947 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 113 shares during the last quarter. Finally, HM Payson & Co. boosted its holdings in shares of Crown Castle by 5.3% in the 1st quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised their target price on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. BMO Capital Markets boosted their price target 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. TD Cowen raised their price objective on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, The Goldman Sachs Group began coverage on Crown Castle in a report on Monday, July 1st. They set a “neutral” rating and a $104.00 target price on the stock. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $113.53.

Crown Castle Trading Down 1.5 %

Shares of NYSE:CCI opened at $117.78 on Thursday. The company has a market capitalization of $51.18 billion, a P/E ratio of 36.81 and a beta of 0.85. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. The business’s 50 day simple moving average is $111.09 and its 200 day simple moving average is $104.01. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The company had revenue of $1.63 billion for 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%. Crown Castle’s revenue was down 12.9% on a year-over-year basis. During the same quarter last year, the business earned $2.05 earnings per share. On average, research analysts anticipate that Crown Castle Inc. will post 6.64 EPS for the current fiscal year.

Crown Castle Announces Dividend

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

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the sale, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is currently owned by insiders.

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.