1,823 Shares in Crown Castle Inc. (NYSE:CCI) Acquired by FLC Capital Advisors

FLC Capital Advisors purchased a new stake in Crown Castle Inc. (NYSE:CCI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,823 shares of the real estate investment trust’s stock, valued at approximately $216,000.

Other institutional investors have also made changes to their positions in the company. SageView Advisory Group LLC boosted its stake in shares of Crown Castle by 65.4% in the 4th quarter. SageView Advisory Group LLC now owns 5,665 shares of the real estate investment trust’s stock valued at $612,000 after purchasing an additional 2,240 shares in the last quarter. HighPoint Advisor Group LLC purchased a new position in shares of Crown Castle in the 4th quarter worth about $743,000. Newbridge Financial Services Group Inc. raised its stake in Crown Castle by 66.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 405 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 161 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Crown Castle by 594.6% during the first quarter. Los Angeles Capital Management LLC now owns 15,699 shares of the real estate investment trust’s stock valued at $1,661,000 after buying an additional 13,439 shares during the period. Finally, Mather Group LLC. bought a new stake in shares of Crown Castle during the first quarter valued at about $125,000. Institutional investors own 90.77% of the company’s stock.

Insider Activity

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction on 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 in the company, valued at $7,792,172.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CCI. JPMorgan Chase & Co. upped their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Royal Bank of Canada raised their price target on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Barclays increased their price objective on Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Bank of America raised their price target 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 objective on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Crown Castle currently has an average rating of “Hold” and an average target price of $115.86.

Crown Castle Stock Up 1.3 %

Shares of CCI opened at $115.78 on Thursday. The business’s 50 day moving average is $113.98 and its 200 day moving average is $105.00. The company has a market capitalization of $50.31 billion, a PE ratio of 42.41 and a beta of 0.85. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $120.92. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the business posted $1.77 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Research analysts expect that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 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.