Crown Castle Inc. (NYSE:CCI) Shares Acquired by Hutchens & Kramer Investment Management Group LLC

Hutchens & Kramer Investment Management Group LLC increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 11.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,748 shares of the real estate investment trust’s stock after buying an additional 280 shares during the quarter. Hutchens & Kramer Investment Management Group LLC’s holdings in Crown Castle were worth $327,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. EntryPoint Capital LLC acquired a new position in shares of Crown Castle during the first quarter worth approximately $27,000. Asset Dedication LLC grew its stake in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 167 shares in the last quarter. Richardson Financial Services Inc. acquired a new position in shares of Crown Castle during the fourth quarter valued at $30,000. Beacon Capital Management LLC raised its stake in shares of Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 177 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in Crown Castle in the second quarter worth about $34,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CCI shares. BMO Capital Markets raised their target price on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. 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. TD Cowen increased their price target on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note 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, JPMorgan Chase & Co. raised their target price on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $115.67.

Insider Buying and Selling at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total transaction 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.39% of the company’s stock.

Crown Castle Trading Up 2.0 %

Shares of NYSE:CCI traded up $2.27 during mid-day trading on Tuesday, hitting $114.30. The stock had a trading volume of 2,818,239 shares, compared to its average volume of 2,635,106. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $120.92. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $49.67 billion, a PE ratio of 41.87 and a beta of 0.85. The company’s 50 day moving average is $113.86 and its 200-day moving average is $104.86.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.62 billion. During the same period in the previous year, the firm earned $2.05 earnings per share. Crown Castle’s quarterly revenue was down 12.9% on a year-over-year basis. On average, sell-side analysts predict that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.48%. Crown Castle’s dividend payout ratio is presently 229.30%.

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.