Mercer Global Advisors Inc. ADV Has $3.82 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Mercer Global Advisors Inc. ADV lifted its stake in Crown Castle Inc. (NYSE:CCI) by 30.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,194 shares of the real estate investment trust’s stock after purchasing an additional 9,070 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Crown Castle were worth $3,817,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Crown Castle in the fourth quarter worth about $25,000. EntryPoint Capital LLC acquired a new position in Crown Castle in the 1st quarter worth approximately $27,000. Richardson Financial Services Inc. purchased a new position in Crown Castle during the 4th quarter worth approximately $30,000. Asset Dedication LLC raised its stake in Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares during the period. Finally, Beacon Capital Management LLC lifted its holdings in shares of Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 0.1 %

Shares of CCI stock opened at $115.33 on Friday. The company has a market capitalization of $50.11 billion, a price-to-earnings ratio of 36.04 and a beta of 0.85. 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 stock’s 50 day simple moving average is $111.58 and its 200 day simple moving average is $104.05. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month 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 for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the previous year, the company earned $2.05 earnings per share. Crown Castle’s revenue for the quarter was down 12.9% on a year-over-year basis. As a group, research analysts predict that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared 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 5.43%. The ex-dividend date is Friday, September 13th. Crown Castle’s dividend payout ratio is currently 195.63%.

Analyst Upgrades and Downgrades

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

Insider Transactions 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 sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently 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.