One Capital Management LLC Purchases New Shares in Crown Castle Inc. (NYSE:CCI)

One Capital Management LLC acquired a new stake in Crown Castle Inc. (NYSE:CCI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,389 shares of the real estate investment trust’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP grew its position in Crown Castle by 22.6% during the second quarter. Quantbot Technologies LP now owns 27,863 shares of the real estate investment trust’s stock worth $2,722,000 after buying an additional 5,135 shares in the last quarter. Bcwm LLC raised its stake in Crown Castle by 5.0% in the second quarter. Bcwm LLC now owns 46,712 shares of the real estate investment trust’s stock valued at $4,564,000 after purchasing an additional 2,220 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Crown Castle during the second quarter worth about $4,147,000. Thompson Siegel & Walmsley LLC grew its stake in Crown Castle by 322.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 301,359 shares of the real estate investment trust’s stock worth $29,443,000 after buying an additional 230,039 shares in the last quarter. Finally, Lyell Wealth Management LP increased its holdings in Crown Castle by 14.5% in the 2nd quarter. Lyell Wealth Management LP now owns 37,598 shares of the real estate investment trust’s stock valued at $3,673,000 after buying an additional 4,762 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CCI shares. The Goldman Sachs Group assumed coverage on shares of Crown Castle in a research report on Monday, July 1st. They set a “neutral” rating and a $104.00 price target on the stock. TD Cowen upped 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. BMO Capital Markets lifted their target price on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Raymond James reissued an “outperform” rating and issued a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Finally, Royal Bank of Canada lifted their price target on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $113.53.

Crown Castle Stock Down 1.5 %

Shares of NYSE:CCI opened at $117.78 on Thursday. The firm has a market cap of $51.18 billion, a P/E ratio of 36.81 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. The business has a fifty 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 (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, topping analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the company earned $2.05 earnings per share. The firm’s revenue was down 12.9% compared to the same quarter last year. Analysts predict that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Announces Dividend

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

Insider Buying and Selling

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction dated 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 approximately $7,792,172.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.39% of the stock is owned by insiders.

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.