Summit Trail Advisors LLC Raises Stake in Crown Castle Inc. (NYSE:CCI)

Summit Trail Advisors LLC lifted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 16.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,916 shares of the real estate investment trust’s stock after acquiring an additional 704 shares during the period. Summit Trail Advisors LLC’s holdings in Crown Castle were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prosperity Consulting Group LLC lifted its position in Crown Castle by 4.4% in the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 95 shares during the last quarter. Granite Investment Partners LLC lifted its holdings in shares of Crown Castle by 0.5% in the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after purchasing an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Crown Castle by 12.8% in the 1st 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 period. Gilbert & Cook Inc. grew its stake in Crown Castle by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock worth $355,000 after buying an additional 110 shares during the last quarter. Finally, HM Payson & Co. grew its stake in Crown Castle by 5.3% during the 1st quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock worth $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 Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BMO Capital Markets increased their price objective on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. Bank of America increased their price target on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Royal Bank of Canada raised their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $114.33.

Crown Castle Stock Performance

Shares of CCI stock opened at $116.85 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. The stock has a 50 day simple moving average of $111.86 and a 200-day simple moving average of $104.03. The company has a market cap of $50.77 billion, a price-to-earnings ratio of 36.52 and a beta of 0.85. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $120.92.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. The firm 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%. Crown Castle’s revenue was down 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.05 earnings per share. On average, equities analysts forecast 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. Investors of record on Friday, September 13th will be issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date is Friday, September 13th. Crown Castle’s dividend payout ratio is currently 195.63%.

Insiders Place Their Bets

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction that occurred on Tuesday, July 23rd. The shares were 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 approximately $7,792,172.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by company 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.