Skandinaviska Enskilda Banken AB publ Acquires 200 Shares of Crown Castle Inc. (NYSE:CCI)

Skandinaviska Enskilda Banken AB publ boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,094 shares of the real estate investment trust’s stock after acquiring an additional 200 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Crown Castle were worth $8,411,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Crown Castle in the 4th quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new position in Crown Castle during the first quarter worth $27,000. Richardson Financial Services Inc. bought a new position in shares of Crown Castle during the fourth quarter valued at $30,000. Asset Dedication LLC boosted its stake in shares of Crown Castle by 159.0% in 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 in the last quarter. Finally, Beacon Capital Management LLC grew its holdings in shares of Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Up 0.1 %

Shares of NYSE CCI opened at $115.33 on Friday. The company’s 50 day simple moving average is $111.58 and its 200 day simple moving average is $104.05. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. The firm has a market capitalization of $50.11 billion, a P/E ratio of 36.04 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.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data 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 net margin of 17.98% and a return on equity of 19.20%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the business posted $2.05 earnings per share. Crown Castle’s revenue was down 12.9% compared to the same quarter last year. On average, analysts predict that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Announces Dividend

The firm 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 $1.565 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.43%. Crown Castle’s dividend payout ratio is currently 195.63%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CCI shares. 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. Bank of America increased their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. BMO Capital Markets lifted their price objective 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. Deutsche Bank Aktiengesellschaft boosted their price objective on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group initiated coverage on Crown Castle in a report on Monday, July 1st. They issued a “neutral” rating and a $104.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $113.53.

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction on Tuesday, July 23rd. The shares were 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 directly owns 75,127 shares in the company, valued at $7,792,172.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.