Paradigm Asset Management Co. LLC raised its stake in Crown Castle Inc. (NYSE:CCI – Get Rating) by 187.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,200 shares of the real estate investment trust’s stock after purchasing an additional 6,000 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Crown Castle were worth $1,248,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Cohen & Steers Inc. boosted its holdings in shares of Crown Castle by 64.2% during the third quarter. Cohen & Steers Inc. now owns 8,335,213 shares of the real estate investment trust’s stock worth $1,204,827,000 after purchasing an additional 3,258,264 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Crown Castle by 645.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,188,540 shares of the real estate investment trust’s stock worth $296,854,000 after buying an additional 1,894,859 shares during the period. Fisher Asset Management LLC raised its holdings in Crown Castle by 53.8% during the fourth quarter. Fisher Asset Management LLC now owns 4,620,033 shares of the real estate investment trust’s stock worth $626,661,000 after acquiring an additional 1,616,949 shares in the last quarter. M&G Investment Management Ltd. increased its holdings in shares of Crown Castle by 36.4% in the fourth quarter. M&G Investment Management Ltd. now owns 1,691,131 shares of the real estate investment trust’s stock valued at $229,994,000 after purchasing an additional 451,665 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Crown Castle by 1.3% in the third quarter. BlackRock Inc. now owns 33,676,811 shares of the real estate investment trust’s stock valued at $4,867,983,000 after buying an additional 445,642 shares in the last quarter. Institutional investors and hedge funds own 90.27% of the company’s stock.
CCI stock traded down $1.54 during trading hours on Friday, hitting $114.02. The company’s stock had a trading volume of 699,194 shares, compared to its average volume of 2,116,358. Crown Castle Inc. has a 12 month low of $110.22 and a 12 month high of $184.92. The stock has a 50 day moving average price of $121.23 and a two-hundred day moving average price of $132.44. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $49.45 billion, a PE ratio of 29.94 and a beta of 0.65.
Crown Castle (NYSE:CCI – Get Rating) last announced its quarterly earnings data on Wednesday, April 19th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.85 by ($0.88). Crown Castle had a return on equity of 22.12% and a net margin of 23.81%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business posted $1.87 EPS. The company’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts expect that Crown Castle Inc. will post 7.25 earnings per share for the current year.
Crown Castle Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $1.565 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.49%. Crown Castle’s payout ratio is presently 162.18%.
Analyst Upgrades and Downgrades
CCI has been the subject of several research reports. Raymond James reduced their price objective on Crown Castle from $154.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, April 21st. Barclays lowered their price target on Crown Castle from $153.00 to $145.00 and set an “equal weight” rating for the company in a report on Thursday, April 20th. Moffett Nathanson raised Crown Castle from a “market perform” rating to an “outperform” rating and cut their target price for the company from $161.00 to $155.00 in a research report on Thursday, March 30th. Royal Bank of Canada dropped their price target on Crown Castle from $162.00 to $144.00 in a research note on Wednesday, April 26th. Finally, Morgan Stanley reduced their price objective on Crown Castle from $159.00 to $151.00 in a research note on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $155.56.
Insider Buying and Selling at Crown Castle
In related news, Director Kevin A. Stephens purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was acquired at an average price of $118.00 per share, with a total value of $118,000.00. Following the completion of the acquisition, the director now directly owns 15,416 shares in the company, valued at approximately $1,819,088. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Crown Castle news, COO Christopher Levendos sold 14,472 shares of Crown Castle stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $124.04, for a total transaction of $1,795,106.88. Following the transaction, the chief operating officer now directly owns 4,759 shares in the company, valued at $590,306.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kevin A. Stephens purchased 1,000 shares of the stock in a transaction on Tuesday, May 2nd. The stock was acquired at an average price of $118.00 per share, with a total value of $118,000.00. Following the completion of the acquisition, the director now directly owns 15,416 shares of the company’s stock, valued at $1,819,088. The disclosure for this purchase can be found here. Insiders have sold a total of 24,472 shares of company stock worth $3,012,757 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.
Crown Castle Company Profile
Crown Castle, Inc is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the Towers and Fiber segments. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.
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