Crown Castle Inc. (NYSE:CCI) Shares Acquired by Cape Investment Advisory Inc.

Cape Investment Advisory Inc. lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 33.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 691 shares of the real estate investment trust’s stock after buying an additional 175 shares during the period. Cape Investment Advisory Inc.’s holdings in Crown Castle were worth $73,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in CCI. Norges Bank purchased a new position in shares of Crown Castle during the 4th quarter worth approximately $581,503,000. M&G Plc purchased a new position in shares of Crown Castle during the 1st quarter worth approximately $221,573,000. Mizuho Markets Americas LLC purchased a new position in shares of Crown Castle during the 4th quarter worth approximately $201,582,000. Balyasny Asset Management L.P. boosted its position in shares of Crown Castle by 18,200.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,651,456 shares of the real estate investment trust’s stock worth $190,231,000 after purchasing an additional 1,642,432 shares during the period. Finally, Capital International Investors boosted its position in shares of Crown Castle by 68,262.1% during the 1st quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock worth $131,239,000 after purchasing an additional 1,238,274 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 23rd. TD Cowen raised their price target on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group began coverage on shares of Crown Castle in a research report on Monday, July 1st. They issued a “neutral” rating and a $104.00 price target for the company. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Crown Castle has a consensus rating of “Hold” and a consensus price target of $113.20.

Crown Castle Stock Up 2.6 %

Shares of Crown Castle stock traded up $2.92 during trading on Friday, hitting $115.21. 2,633,025 shares of the stock were exchanged, compared to its average volume of 2,235,651. The stock has a market cap of $50.07 billion, a price-to-earnings ratio of 36.00 and a beta of 0.83. The firm’s 50-day moving average price is $101.05 and its 200 day moving average price is $102.76. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $119.50. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.42.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (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 during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the previous year, the company earned $2.05 EPS. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. As a group, analysts forecast that Crown Castle Inc. will post 6.63 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.26 annualized dividend and a yield of 5.43%. Crown Castle’s dividend payout ratio is currently 195.63%.

Insider Buying and Selling

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.39% of the stock is owned by company insiders.

Crown Castle Company Profile

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.