Crown Castle Inc. (NYSE:CCI) Stock Holdings Increased by Ascent Group LLC

Ascent Group LLC grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 19.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,317 shares of the real estate investment trust’s stock after acquiring an additional 376 shares during the quarter. Ascent Group LLC’s holdings in Crown Castle were worth $245,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. SVB Wealth LLC grew its position in Crown Castle by 11.2% in the 1st quarter. SVB Wealth LLC now owns 4,365 shares of the real estate investment trust’s stock valued at $462,000 after buying an additional 441 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Crown Castle by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,783,020 shares of the real estate investment trust’s stock valued at $188,698,000 after purchasing an additional 95,711 shares in the last quarter. BOKF NA raised its stake in shares of Crown Castle by 25.6% in the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock worth $417,000 after buying an additional 815 shares in the last quarter. Steel Grove Capital Advisors LLC acquired a new stake in shares of Crown Castle in the first quarter valued at $247,000. Finally, Magnetar Financial LLC acquired a new position in Crown Castle during the first quarter worth about $4,384,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 0.6 %

Shares of Crown Castle stock traded up $0.61 on Monday, hitting $108.13. 2,151,418 shares of the company traded hands, compared to its average volume of 2,771,258. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $119.50. The company has a quick ratio of 0.42, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. The company has a market cap of $46.98 billion, a PE ratio of 33.79 and a beta of 0.83. The company has a 50-day moving average price of $100.07 and a 200 day moving average price of $102.70.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the business posted $2.05 EPS. The firm’s quarterly revenue was down 12.9% compared to the same quarter last year. Sell-side analysts predict that Crown Castle Inc. will post 6.63 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.79%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s payout ratio is 195.63%.

Insider Buying and Selling at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CCI shares. Wells Fargo & Company reduced their price objective on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. Bank of America lifted their target price on Crown Castle from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Argus downgraded Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Raymond James reissued an “outperform” rating and issued 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 reduced their price objective on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $114.88.

Crown Castle Company 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.