Loudon Investment Management LLC Has $1.25 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Loudon Investment Management LLC increased its position in shares of Crown Castle Inc. (NYSE:CCI) by 3.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,772 shares of the real estate investment trust’s stock after buying an additional 393 shares during the quarter. Loudon Investment Management LLC’s holdings in Crown Castle were worth $1,248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Crown Castle during the 4th quarter worth about $25,000. EntryPoint Capital LLC bought a new position in Crown Castle in the first quarter valued at approximately $27,000. Gables Capital Management Inc. increased its position in shares of Crown Castle by 164.0% during the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 164 shares during the last quarter. Richardson Financial Services Inc. bought a new stake in shares of Crown Castle during the 4th quarter worth approximately $30,000. Finally, Beacon Capital Management LLC boosted its holdings in shares of Crown Castle by 163.9% in 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. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity at Crown Castle

In other 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 transaction of $1,128,784.76. Following the sale, 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 accessible through the SEC website. 0.39% of the stock is owned by insiders.

Crown Castle Price Performance

Shares of CCI traded up $2.25 during trading hours on Friday, hitting $116.12. 3,016,398 shares of the company were exchanged, compared to its average volume of 2,659,891. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $119.50. The company has a market cap of $50.46 billion, a price-to-earnings ratio of 36.29 and a beta of 0.85. The firm’s fifty day moving average is $107.47 and its 200 day moving average is $103.44.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the company earned $2.05 earnings per share. The company’s quarterly revenue was down 12.9% on a year-over-year basis. On average, equities analysts anticipate that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Friday, September 13th. Crown Castle’s dividend payout ratio is 195.63%.

Analysts Set New Price Targets

CCI has been the topic of a number of recent analyst reports. Raymond James restated an “outperform” rating and set a $126.00 target price (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. TD Cowen upped their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. The Goldman Sachs Group started coverage on shares of Crown Castle in a research note on Monday, July 1st. They issued a “neutral” rating and a $104.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Finally, Bank of America raised their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average target price of $113.53.

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.