Crown Castle Inc. (NYSE:CCI) Stake Raised by Czech National Bank

Czech National Bank raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 8.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,802 shares of the real estate investment trust’s stock after acquiring an additional 6,494 shares during the quarter. Czech National Bank’s holdings in Crown Castle were worth $8,090,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Crown Castle during the fourth quarter worth $25,000. Rational Advisors LLC bought a new stake in shares of Crown Castle in the 1st quarter valued at approximately $27,000. EntryPoint Capital LLC acquired a new position in Crown Castle in the first quarter worth approximately $27,000. Richardson Financial Services Inc. bought a new position in Crown Castle during the fourth quarter valued at approximately $30,000. Finally, Gables Capital Management Inc. lifted its stake in Crown Castle by 164.0% in the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 164 shares during the last quarter. Institutional investors and hedge funds 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 that occurred 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 completion of the transaction, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CCI. Bank of America upped their price objective on shares of Crown Castle from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Jefferies Financial Group lowered their price objective on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. The Goldman Sachs Group started coverage on Crown Castle in a report on Monday, July 1st. They set a “neutral” rating and a $104.00 price target on the stock. Finally, TD Cowen boosted their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $113.20.

Crown Castle Stock Performance

CCI stock traded down $0.98 during trading on Monday, reaching $109.66. 1,500,038 shares of the stock were exchanged, compared to its average volume of 2,745,642. The stock has a 50 day simple moving average of $102.27 and a 200-day simple moving average of $102.85. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. The company has a market capitalization of $47.65 billion, a P/E ratio of 34.58 and a beta of 0.83. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $119.50.

Crown Castle (NYSE:CCI) last released its quarterly earnings data 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. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. Crown Castle’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 earnings per share. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.63 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date is Friday, September 13th. Crown Castle’s dividend payout ratio 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.