Crown Castle Inc. (NYSE:CCI) Stake Raised by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC increased its holdings in Crown Castle Inc. (NYSE:CCI) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,869 shares of the real estate investment trust’s stock after buying an additional 91 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Crown Castle were worth $376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ables Iannone Moore & Associates Inc. bought a new position in shares of Crown Castle in the fourth quarter worth $25,000. EntryPoint Capital LLC bought a new position in Crown Castle in the 1st quarter valued at about $27,000. Asset Dedication LLC increased 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 buying an additional 167 shares during the period. Richardson Financial Services Inc. acquired a new position in Crown Castle during the 4th quarter valued at about $30,000. Finally, Beacon Capital Management LLC raised its position in shares of Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 177 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

Shares of CCI opened at $118.63 on Tuesday. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $51.55 billion, a price-to-earnings ratio of 37.07 and a beta of 0.85. The business’s 50-day moving average is $113.07 and its 200-day moving average is $104.26.

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

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.28%. Crown Castle’s dividend payout ratio is currently 195.63%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Raymond James reiterated an “outperform” rating and set a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. The Goldman Sachs Group boosted their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. BMO Capital Markets lifted their target price on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. TD Cowen boosted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average target price of $115.40.

Insider Activity at Crown Castle

In other 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 transaction of $1,128,784.76. Following the transaction, 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

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.