Mosley Wealth Management Raises Holdings in Crown Castle Inc. (NYSE:CCI)

Mosley Wealth Management boosted its stake in Crown Castle Inc. (NYSE:CCI) by 22.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,326 shares of the real estate investment trust’s stock after purchasing an additional 600 shares during the period. Mosley Wealth Management’s holdings in Crown Castle were worth $325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in Crown Castle during the 4th quarter valued at $25,000. EntryPoint Capital LLC purchased a new position in Crown Castle during the 1st quarter valued at about $27,000. Richardson Financial Services Inc. bought a new position in Crown Castle during the 4th quarter valued at approximately $30,000. Gables Capital Management Inc. lifted its holdings in Crown Castle by 164.0% in the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 164 shares during the period. Finally, Beacon Capital Management LLC grew its position in shares of Crown Castle by 163.9% in the 1st 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 own 90.77% of the company’s stock.

Crown Castle Stock Up 2.0 %

NYSE CCI traded up $2.25 during mid-day trading on Friday, reaching $116.12. The stock had a trading volume of 3,016,398 shares, compared to its average volume of 2,659,891. The company has a fifty day moving average price of $107.47 and a 200 day moving average price of $103.44. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $119.50. The stock has a market cap of $50.46 billion, a PE ratio of 36.29 and a beta of 0.85.

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, beating analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the company posted $2.05 earnings per share. The company’s quarterly revenue was down 12.9% on a year-over-year basis. On average, research analysts expect that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.39%. Crown Castle’s payout ratio is 195.63%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CCI shares. BMO Capital Markets upped their target price on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. TD Cowen lifted their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. The Goldman Sachs Group initiated coverage on shares of Crown Castle in a report on Monday, July 1st. They issued a “neutral” rating and a $104.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada lifted their price target on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $113.53.

Insider Activity at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’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 transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.39% of the stock is owned by insiders.

About Crown Castle

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.