Crewe Advisors LLC Invests $136,000 in Crown Castle Inc. (NYSE:CCI)

Crewe Advisors LLC acquired a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,285 shares of the real estate investment trust’s stock, valued at approximately $136,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. bought a new stake in Crown Castle during the 4th quarter valued at $25,000. Rational Advisors LLC bought a new stake in shares of Crown Castle in the 1st quarter worth $27,000. Gables Capital Management Inc. raised its stake in shares of Crown Castle by 164.0% in the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 164 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in shares of Crown Castle in the 4th quarter worth $30,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Crown Castle in the 1st quarter worth $32,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. 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. Wells Fargo & Company cut their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. Raymond James reaffirmed an “outperform” rating and set a $126.00 target price (up from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. TD Cowen boosted their target price on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $114.88.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was 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 owns 75,127 shares in the company, valued at $7,792,172.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Crown Castle Stock Up 0.1 %

Shares of CCI stock traded up $0.06 on Thursday, reaching $105.53. 2,453,486 shares of the company’s stock traded hands, compared to its average volume of 2,783,617. 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 quick ratio of 0.42 and a current ratio of 0.43. The company has a market capitalization of $45.85 billion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 2.76 and a beta of 0.83. The business’s 50 day moving average price is $99.83 and its two-hundred day moving average price is $102.93.

Crown Castle (NYSE:CCI) last issued 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 for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The business’s quarterly revenue was down 12.9% compared to the same quarter last year. On average, equities analysts forecast that Crown Castle Inc. will post 6.62 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 paid 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 5.93%. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

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.