Crown Castle Inc. (NYSE:CCI) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD boosted its stake in Crown Castle Inc. (NYSE:CCI) by 5.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,783,020 shares of the real estate investment trust’s stock after purchasing an additional 95,711 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.41% of Crown Castle worth $188,698,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCI. Fisher Asset Management LLC increased its holdings in shares of Crown Castle by 16.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock worth $523,773,000 after buying an additional 632,398 shares during the last quarter. Court Place Advisors LLC purchased a new position in shares of Crown Castle in the 4th quarter worth about $201,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Crown Castle by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock worth $98,570,000 after purchasing an additional 8,136 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at about $4,425,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Crown Castle by 30.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after purchasing an additional 8,346 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CCI. Scotiabank cut their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Jefferies Financial Group decreased their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. TD Cowen increased their price target on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Finally, Barclays increased their target price on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 23rd. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $114.88.

Insider Activity

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the transaction, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is owned by insiders.

Crown Castle Stock Up 0.5 %

NYSE CCI traded up $0.59 during trading hours on Monday, reaching $108.11. 412,521 shares of the company traded hands, compared to its average volume of 2,759,154. The company has a 50 day moving average of $99.92 and a two-hundred day moving average of $102.73. The stock has a market capitalization of $46.98 billion, a PE ratio of 33.60 and a beta of 0.83. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $119.50. The company has a current ratio of 0.43, a quick ratio of 0.42 and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the company posted $2.05 earnings per share. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. As a group, equities analysts expect that Crown Castle Inc. will post 6.63 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $1.565 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 5.79%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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.