Crown Castle Inc. (NYSE:CCI) Stake Boosted by NewEdge Advisors LLC

NewEdge Advisors LLC raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 2.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,879 shares of the real estate investment trust’s stock after buying an additional 372 shares during the quarter. NewEdge Advisors LLC’s holdings in Crown Castle were worth $1,747,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CCI. Fisher Asset Management LLC boosted its position in Crown Castle by 16.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock worth $523,773,000 after acquiring an additional 632,398 shares during the period. BOKF NA boosted 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 worth $417,000 after purchasing an additional 815 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in 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 purchasing an additional 8,136 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Crown Castle during the first quarter valued at approximately $4,425,000. Finally, O Shaughnessy Asset Management LLC increased its stake in Crown Castle by 30.4% in the 1st 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 during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. BMO Capital Markets boosted their price target on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their target price on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Bank of America raised their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Royal Bank of Canada boosted their price target on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus target price of $115.40.

Insider Transactions at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction 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 $7,792,172.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is currently owned by insiders.

Crown Castle Stock Performance

NYSE CCI opened at $111.48 on Friday. The company’s fifty day moving average is $113.83 and its two-hundred day moving average is $104.55. Crown Castle Inc. has a 52-week low of $84.72 and a 52-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 firm has a market capitalization of $48.45 billion, a price-to-earnings ratio of 34.84 and a beta of 0.85.

Crown Castle (NYSE:CCI) last released its 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 return on equity of 19.20% and a net margin of 17.98%. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period last year, the business earned $2.05 earnings per share. Equities research analysts forecast that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.62%. Crown Castle’s dividend payout ratio is currently 195.63%.

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.