Czech National Bank Has $10.50 Million Stake in Crown Castle Inc. (NYSE:CCI)

Czech National Bank raised its position in Crown Castle Inc. (NYSE:CCI) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,525 shares of the real estate investment trust’s stock after purchasing an additional 5,723 shares during the quarter. Czech National Bank’s holdings in Crown Castle were worth $10,502,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Crown Castle in the 4th quarter valued at about $25,000. EntryPoint Capital LLC acquired a new position in Crown Castle during the first quarter worth approximately $27,000. Asset Dedication LLC increased its position in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares during the last quarter. Richardson Financial Services Inc. acquired a new position in Crown Castle during the fourth quarter worth approximately $30,000. Finally, Beacon Capital Management LLC increased its position in Crown Castle by 163.9% during the first 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 during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BMO Capital Markets boosted their price target on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. TD Cowen boosted their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. boosted their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Raymond James restated an “outperform” rating and set a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Finally, Bank of America boosted their price objective on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $115.40.

Crown Castle Price Performance

Shares of NYSE:CCI traded down $2.81 during trading on Friday, hitting $111.48. 3,314,710 shares of the company were exchanged, compared to its average volume of 2,569,105. The business’s 50 day moving average is $113.83 and its 200-day moving average is $104.55. The company has a market capitalization of $48.45 billion, a P/E ratio of 34.83 and a beta of 0.85. 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 Inc. has a 1-year low of $84.72 and a 1-year high of $120.92.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. The company had revenue of $1.63 billion during 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%. The company’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 earned $2.05 earnings per share. Equities analysts forecast that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.62%. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s 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 sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.