Crown Castle Inc. (NYSE:CCI) Shares Purchased by Sarasin & Partners LLP

Sarasin & Partners LLP increased its position in shares of Crown Castle Inc. (NYSE:CCI) by 13.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,139 shares of the real estate investment trust’s stock after acquiring an additional 8,083 shares during the period. Sarasin & Partners LLP’s holdings in Crown Castle were worth $8,202,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new position in Crown Castle in the 4th quarter worth about $25,000. EntryPoint Capital LLC purchased a new position in Crown Castle in the 1st quarter worth about $27,000. Asset Dedication LLC boosted its position in Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 167 shares during the period. Richardson Financial Services Inc. acquired a new stake in Crown Castle during the 4th quarter worth about $30,000. Finally, Beacon Capital Management LLC lifted its holdings in shares of Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 177 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on CCI. The Goldman Sachs Group boosted their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Raymond James reissued an “outperform” rating and issued a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft upped their price target on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Bank of America upped their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, TD Cowen increased their price target on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $115.67.

Insider Transactions at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.39% of the company’s stock.

Crown Castle Stock Up 0.2 %

NYSE CCI traded up $0.17 during mid-day trading on Friday, reaching $110.11. The stock had a trading volume of 180,142 shares, compared to its average volume of 2,635,436. The stock has a market cap of $47.85 billion, a PE ratio of 40.27 and a beta of 0.85. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. The company has a fifty day moving average price of $113.92 and a 200 day moving average price of $104.75. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the company earned $2.05 EPS. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. On average, research analysts expect that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.69%. The ex-dividend date was Friday, September 13th. Crown Castle’s payout ratio is 229.30%.

Crown Castle 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.