True North Advisors LLC Raises Holdings in Crown Castle Inc. (NYSE:CCI)

True North Advisors LLC grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,345 shares of the real estate investment trust’s stock after purchasing an additional 95 shares during the quarter. True North Advisors LLC’s holdings in Crown Castle were worth $278,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC boosted its stake in shares of Crown Castle by 2.4% during the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after buying an additional 91 shares during the period. Prosperity Consulting Group LLC boosted its stake in shares of Crown Castle by 4.4% during the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 95 shares during the period. Granite Investment Partners LLC boosted its stake in shares of Crown Castle by 0.5% during the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock worth $1,899,000 after buying an additional 100 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Crown Castle by 12.8% during the first quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 108 shares during the period. Finally, HM Payson & Co. boosted its stake in shares of Crown Castle by 5.3% during the first quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CCI. 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. The Goldman Sachs Group raised their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Bank of America raised their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. 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. Finally, Royal Bank of Canada raised their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Eleven 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 company has an average rating of “Hold” and a consensus price target of $115.40.

Crown Castle Trading Down 0.1 %

Shares of CCI opened at $111.99 on Wednesday. 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 50 day simple moving average of $113.94 and a 200-day simple moving average of $104.67. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $120.92. The stock has a market cap of $48.67 billion, a price-to-earnings ratio of 35.03 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 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 EPS. Equities analysts forecast that Crown Castle Inc. will post 6.64 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 yield of 5.59%. Crown Castle’s 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.