CTC Capital Management LLC purchased a new position in Crown Castle Inc. (NYSE:CCI – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,362 shares of the real estate investment trust’s stock, valued at approximately $727,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Crown Castle by 0.6% in the third quarter. Vanguard Group Inc. now owns 56,942,098 shares of the real estate investment trust’s stock worth $8,230,979,000 after purchasing an additional 355,184 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Crown Castle by 1.3% during the third quarter. BlackRock Inc. now owns 33,676,811 shares of the real estate investment trust’s stock worth $4,867,983,000 after buying an additional 445,642 shares during the period. Geode Capital Management LLC lifted its stake in shares of Crown Castle by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 8,927,943 shares of the real estate investment trust’s stock worth $1,208,811,000 after buying an additional 185,016 shares during the period. Cohen & Steers Inc. lifted its stake 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 buying an additional 3,258,264 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of 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 buying an additional 1,616,949 shares during the period. 90.27% of the stock is owned by hedge funds and other institutional investors.
Crown Castle Price Performance
Shares of CCI stock traded down $0.23 on Thursday, reaching $112.98. 1,018,848 shares of the company were exchanged, compared to its average volume of 2,105,933. The company has a market cap of $49.00 billion, a price-to-earnings ratio of 29.33 and a beta of 0.65. The business has a 50-day moving average price of $123.01 and a 200 day moving average price of $133.33. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.52 and a current ratio of 0.52. Crown Castle Inc. has a 1 year low of $110.22 and a 1 year high of $187.73.
Crown Castle (NYSE:CCI – Get Rating) last released its earnings results on Wednesday, April 19th. The real estate investment trust reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.88). The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Crown Castle had a return on equity of 22.12% and a net margin of 23.81%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.87 EPS. Equities research analysts forecast that Crown Castle Inc. will post 7.25 earnings per share for the current fiscal year.
Crown Castle Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a dividend of $1.565 per share. The ex-dividend date is Wednesday, June 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.54%. Crown Castle’s dividend payout ratio is currently 162.18%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on CCI shares. StockNews.com started coverage on shares of Crown Castle in a research note on Thursday, May 18th. They set a “hold” rating for the company. TD Cowen lowered their price objective on shares of Crown Castle from $152.00 to $149.00 and set an “outperform” rating for the company in a research note on Friday, April 21st. Morgan Stanley lowered their price objective on shares of Crown Castle from $159.00 to $151.00 in a research note on Tuesday, April 18th. Moffett Nathanson upgraded shares of Crown Castle from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $161.00 to $155.00 in a research report on Thursday, March 30th. Finally, Royal Bank of Canada decreased their target price on shares of Crown Castle from $162.00 to $144.00 in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.56.
Insider Transactions at Crown Castle
In other Crown Castle news, Director Kevin A. Stephens acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was bought at an average price of $118.00 per share, with a total value of $118,000.00. Following the purchase, the director now owns 15,416 shares in the company, valued at $1,819,088. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Crown Castle news, Director Kevin A. Stephens acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was bought at an average price of $118.00 per share, with a total value of $118,000.00. Following the purchase, the director now owns 15,416 shares in the company, valued at $1,819,088. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Laura B. Nichol sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $120.97, for a total transaction of $604,850.00. Following the sale, the executive vice president now directly owns 16,782 shares of the company’s stock, valued at approximately $2,030,118.54. The disclosure for this sale can be found here. Insiders sold 24,472 shares of company stock valued at $3,012,757 over the last 90 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.
