Lake Street Advisors Group LLC Has $356,000 Stake in Crown Castle Inc. (NYSE:CCI)

Lake Street Advisors Group LLC grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 40.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,365 shares of the real estate investment trust’s stock after acquiring an additional 966 shares during the period. Lake Street Advisors Group LLC’s holdings in Crown Castle were worth $356,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. HB Wealth Management LLC lifted its stake in Crown Castle by 24.0% in the fourth quarter. HB Wealth Management LLC now owns 8,416 shares of the real estate investment trust’s stock valued at $970,000 after buying an additional 1,628 shares during the period. Tectonic Advisors LLC lifted its position in shares of Crown Castle by 17.3% during the 4th quarter. Tectonic Advisors LLC now owns 4,698 shares of the real estate investment trust’s stock valued at $541,000 after acquiring an additional 694 shares during the period. Columbia Trust Co 01012016 boosted its stake in Crown Castle by 17.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 4,128 shares of the real estate investment trust’s stock worth $476,000 after acquiring an additional 609 shares in the last quarter. IFG Advisory LLC acquired a new stake in Crown Castle in the fourth quarter worth $259,000. Finally, FLC Capital Advisors increased its stake in Crown Castle by 15.0% in the fourth quarter. FLC Capital Advisors now owns 4,734 shares of the real estate investment trust’s stock valued at $545,000 after purchasing an additional 619 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 available at the SEC website. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of research analyst reports. The Goldman Sachs Group began coverage on shares of Crown Castle in a research report on Monday, July 1st. They set a “neutral” rating and a $104.00 price objective on the stock. Jefferies Financial Group decreased their price objective on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft increased their target price on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday. Raymond James restated an “outperform” rating and set a $126.00 price target (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Finally, Scotiabank dropped their price objective on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $114.63.

Crown Castle Stock Performance

Shares of NYSE CCI traded up $1.18 during midday trading on Wednesday, reaching $105.47. The company’s stock had a trading volume of 2,303,354 shares, compared to its average volume of 2,785,922. The stock has a market capitalization of $45.83 billion, a P/E ratio of 32.96, a PEG ratio of 2.75 and a beta of 0.83. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.42. The firm has a 50 day moving average price of $99.80 and a 200-day moving average price of $102.92. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $119.50.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The business’s revenue was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 earnings per share. As a group, equities analysts predict that Crown Castle Inc. will post 6.62 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.94%. The ex-dividend date was Friday, June 14th. Crown Castle’s dividend payout ratio is 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.