1,222 Shares in Crown Castle Inc. (NYSE:CCI) Acquired by Highland Private Wealth Management

Highland Private Wealth Management bought a new position in Crown Castle Inc. (NYSE:CCIGet Rating) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 1,222 shares of the real estate investment trust’s stock, valued at approximately $205,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Crown Castle by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 56,909,352 shares of the real estate investment trust’s stock valued at $10,505,466,000 after purchasing an additional 1,015,352 shares during the period. BlackRock Inc. increased its holdings in Crown Castle by 15.3% in the 4th quarter. BlackRock Inc. now owns 37,010,877 shares of the real estate investment trust’s stock valued at $7,725,650,000 after acquiring an additional 4,919,828 shares during the last quarter. State Street Corp grew its stake in shares of Crown Castle by 6.4% in the 1st quarter. State Street Corp now owns 20,925,592 shares of the real estate investment trust’s stock worth $3,862,864,000 after buying an additional 1,261,426 shares in the last quarter. Capital International Investors grew its stake in shares of Crown Castle by 1.3% in the 1st quarter. Capital International Investors now owns 17,940,782 shares of the real estate investment trust’s stock worth $3,311,853,000 after buying an additional 231,430 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Crown Castle by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,859,849 shares of the real estate investment trust’s stock worth $1,081,728,000 after buying an additional 75,920 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Down 0.8 %

CCI stock opened at $157.09 on Friday. The firm’s fifty day simple moving average is $173.71 and its 200-day simple moving average is $177.62. The company has a market capitalization of $68.03 billion, a P/E ratio of 44.13 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 12 month low of $153.70 and a 12 month high of $209.87.

Crown Castle (NYSE:CCIGet Rating) last released its quarterly earnings data 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 revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned $1.71 earnings per share. As a group, equities research analysts forecast that Crown Castle Inc. will post 7.04 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Wednesday, September 14th. Crown Castle’s dividend payout ratio (DPR) is presently 165.17%.

Analyst Upgrades and Downgrades

CCI has been the subject of a number of recent analyst reports. Credit Suisse Group dropped their price target on shares of Crown Castle to $213.00 in a research note on Friday, July 22nd. The Goldman Sachs Group reduced their price objective on shares of Crown Castle from $189.00 to $166.00 and set a “neutral” rating for the company in a research note on Tuesday, July 12th. Jefferies Financial Group upgraded shares of Crown Castle from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $191.00 to $200.00 in a research note on Thursday, June 30th. Wells Fargo & Company reduced their price objective on shares of Crown Castle from $180.00 to $175.00 and set an “underweight” rating for the company in a research note on Tuesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Crown Castle from $183.00 to $185.00 in a research note on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.20.

Insider Buying and Selling

In other news, Director Kevin A. Stephens purchased 699 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were purchased at an average cost of $173.60 per share, with a total value of $121,346.40. Following the completion of the acquisition, the director now owns 10,703 shares of the company’s stock, valued at approximately $1,858,040.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by insiders.

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.

Further Reading

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

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