Lake Street Financial LLC acquired a new stake in Crown Castle Inc. (NYSE:CCI – Get Rating) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,658 shares of the real estate investment trust’s stock, valued at approximately $279,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. North Star Investment Management Corp. purchased a new stake in shares of Crown Castle in the first quarter valued at approximately $25,000. IAG Wealth Partners LLC lifted its holdings in Crown Castle by 277.8% in the fourth quarter. IAG Wealth Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 100 shares during the period. HHM Wealth Advisors LLC purchased a new stake in shares of Crown Castle during the 1st quarter worth $28,000. Blume Capital Management Inc. acquired a new position in shares of Crown Castle during the 1st quarter worth $29,000. Finally, HWG Holdings LP purchased a new position in shares of Crown Castle in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.
Analyst Ratings Changes
Several research analysts have weighed in on CCI shares. KeyCorp lowered their target price on shares of Crown Castle from $219.00 to $205.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Raymond James dropped their price objective on Crown Castle from $206.00 to $201.00 in a research note on Friday, July 22nd. Wells Fargo & Company decreased their target price on Crown Castle from $180.00 to $175.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 19th. Cowen dropped their price target on Crown Castle to $195.00 in a research report on Friday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Crown Castle from $183.00 to $185.00 in a research report on Friday, July 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.20.
Insider Buying and Selling at Crown Castle
Crown Castle Price Performance
Shares of NYSE:CCI opened at $158.39 on Thursday. The company has a market cap of $68.59 billion, a P/E ratio of 44.49 and a beta of 0.60. The business has a fifty day simple moving average of $173.99 and a 200-day simple moving average of $177.75. Crown Castle Inc. has a 52 week low of $153.70 and a 52 week high of $209.87. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.70.
Crown Castle (NYSE:CCI – Get Rating) last posted its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.97 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.74). The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Crown Castle had a net margin of 22.91% and a return on equity of 18.93%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.71 EPS. Equities research analysts forecast that Crown Castle Inc. will post 7.04 EPS for the current year.
Crown Castle Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Wednesday, September 14th. Crown Castle’s dividend payout ratio is currently 165.17%.
Crown Castle Company Profile
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.
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