Everhart Financial Group Inc. Acquires New Shares in Crown Castle Inc. (NYSE:CCI)

Everhart Financial Group Inc. acquired a new stake in Crown Castle Inc. (NYSE:CCIGet Rating) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,438 shares of the real estate investment trust’s stock, valued at approximately $242,000.

Other large investors have also bought and sold shares of the company. Clearview Wealth Advisors LLC boosted its position in Crown Castle by 25.8% in the first quarter. Clearview Wealth Advisors LLC now owns 288 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 59 shares during the last quarter. Cordasco Financial Network raised its stake in shares of Crown Castle by 20.3% in the first quarter. Cordasco Financial Network now owns 355 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 60 shares during the period. Patten & Patten Inc. TN raised its stake in shares of Crown Castle by 0.7% in the first quarter. Patten & Patten Inc. TN now owns 8,523 shares of the real estate investment trust’s stock valued at $1,573,000 after buying an additional 60 shares during the period. Rosenberg Matthew Hamilton raised its stake in shares of Crown Castle by 38.4% in the first quarter. Rosenberg Matthew Hamilton now owns 220 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 61 shares during the period. Finally, CWA Asset Management Group LLC raised its stake in shares of Crown Castle by 5.9% during the 1st quarter. CWA Asset Management Group LLC now owns 1,097 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 61 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Crown Castle

In other news, Director Kevin A. Stephens bought 699 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was purchased at an average price of $173.60 per share, with a total value of $121,346.40. Following the transaction, the director now owns 10,703 shares of the company’s stock, valued at $1,858,040.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CCI. Deutsche Bank Aktiengesellschaft boosted their price objective on Crown Castle from $183.00 to $185.00 in a research note on Friday, July 22nd. Barclays reduced their target price on Crown Castle from $214.00 to $212.00 and set an “overweight” rating for the company in a research report on Friday, August 26th. Cowen reduced their target price on Crown Castle to $195.00 in a research report on Friday, July 22nd. The Goldman Sachs Group reduced their target price on Crown Castle from $189.00 to $166.00 and set a “neutral” rating for the company in a research report on Tuesday, July 12th. Finally, Citigroup reduced their target price on Crown Castle from $204.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.20.

Crown Castle Trading Down 1.3 %

CCI opened at $161.34 on Wednesday. The business has a 50 day simple moving average of $174.24 and a two-hundred day simple moving average of $177.89. The firm has a market capitalization of $69.87 billion, a price-to-earnings ratio of 45.32 and a beta of 0.60. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.69 and a quick ratio of 0.69. Crown Castle Inc. has a one year low of $153.70 and a one year high of $209.87.

Crown Castle (NYSE:CCIGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.74). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.71 billion. Crown Castle had a net margin of 22.91% and a return on equity of 18.93%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.71 EPS. Analysts predict that Crown Castle Inc. will post 7.03 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Wednesday, September 14th. Crown Castle’s payout ratio is 165.17%.

Crown Castle Profile

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

See Also

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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