Andra AP fonden Purchases 18,900 Shares of Crown Castle Inc. (NYSE:CCI)

Andra AP fonden lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 16.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,500 shares of the real estate investment trust’s stock after acquiring an additional 18,900 shares during the period. Andra AP fonden’s holdings in Crown Castle were worth $13,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCI. Ables Iannone Moore & Associates Inc. bought a new stake in Crown Castle in the fourth quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new position in shares of Crown Castle during the 1st quarter valued at $27,000. Asset Dedication LLC boosted its stake in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 167 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in Crown Castle in the fourth quarter worth $30,000. Finally, Beacon Capital Management LLC raised its holdings in shares of Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 177 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Up 2.1 %

NYSE:CCI opened at $119.96 on Wednesday. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $120.11. The firm has a 50-day moving average price of $108.39 and a two-hundred day moving average price of $103.52. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $52.13 billion, a price-to-earnings ratio of 37.49 and a beta of 0.85.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 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 company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the business posted $2.05 earnings per share. Crown Castle’s revenue was down 12.9% on a year-over-year basis. On average, equities analysts expect that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.22%. Crown Castle’s payout ratio is currently 195.63%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

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.