American Century Companies Inc. Has $18.36 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

American Century Companies Inc. cut its stake in shares of Crown Castle Inc. (NYSE:CCI) by 31.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 187,922 shares of the real estate investment trust’s stock after selling 85,339 shares during the period. American Century Companies Inc.’s holdings in Crown Castle were worth $18,360,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fisher Asset Management LLC grew its holdings in shares of Crown Castle by 16.2% during the fourth quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock valued at $523,773,000 after buying an additional 632,398 shares in the last quarter. BOKF NA grew its holdings in shares of Crown Castle by 25.6% during the first quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after buying an additional 815 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Crown Castle by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock valued at $98,570,000 after buying an additional 8,136 shares in the last quarter. Global Assets Advisory LLC purchased a new position in shares of Crown Castle during the first quarter valued at $4,425,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Crown Castle by 30.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock valued at $3,789,000 after buying an additional 8,346 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $115.30 on Friday. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $50.11 billion, a price-to-earnings ratio of 36.03 and a beta of 0.85. The business’s 50-day simple moving average is $111.58 and its 200-day simple moving average is $104.11. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $120.92.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. As a group, equities research analysts expect that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.43%. Crown Castle’s payout ratio is 195.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CCI. Deutsche Bank Aktiengesellschaft lifted their price target on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. TD Cowen boosted their target price on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Raymond James restated an “outperform” rating and issued a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. BMO Capital Markets boosted their target price on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Finally, Bank of America boosted their target price on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $113.53.

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by corporate 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.