Crewe Advisors LLC Acquires Shares of 1,285 Crown Castle Inc. (NYSE:CCI)

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

Other hedge funds have also bought and sold shares of the company. InterOcean Capital Group LLC boosted its stake in shares of Crown Castle by 42.5% during the first quarter. InterOcean Capital Group LLC now owns 12,600 shares of the real estate investment trust’s stock valued at $1,333,000 after purchasing an additional 3,760 shares during the period. Pitcairn Co. boosted its stake in shares of Crown Castle by 12.2% during the first quarter. Pitcairn Co. now owns 3,133 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 341 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Crown Castle by 432.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,147,531 shares of the real estate investment trust’s stock valued at $121,443,000 after purchasing an additional 932,112 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of Crown Castle by 5.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 653,932 shares of the real estate investment trust’s stock valued at $69,236,000 after purchasing an additional 31,116 shares during the period. Finally, National Bank of Canada FI boosted its stake in shares of Crown Castle by 7.9% during the first quarter. National Bank of Canada FI now owns 3,644,434 shares of the real estate investment trust’s stock valued at $362,658,000 after purchasing an additional 265,330 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insider Activity at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction on 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 owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Crown Castle Stock Performance

Shares of NYSE:CCI traded up $0.06 during trading on Thursday, hitting $105.53. 2,453,486 shares of the stock traded hands, compared to its average volume of 2,783,617. The company has a quick ratio of 0.42, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. The company has a market cap of $45.85 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 2.76 and a beta of 0.83. The company has a fifty day moving average price of $99.83 and a two-hundred day moving average price of $102.93. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the company earned $2.05 EPS. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. As a group, equities analysts predict that Crown Castle Inc. will post 6.62 EPS for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $1.565 dividend. The ex-dividend date of this dividend 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 is currently 195.63%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. BMO Capital Markets boosted 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. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Scotiabank lowered their price objective on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. The Goldman Sachs Group initiated coverage on shares of Crown Castle in a report on Monday, July 1st. They issued a “neutral” rating and a $104.00 price target on the stock. Finally, Barclays raised their price target on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $114.88.

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.