V Square Quantitative Management LLC Has $848,000 Stock Position in Crown Castle Inc. (NYSE:CCI)

V Square Quantitative Management LLC boosted its stake in Crown Castle Inc. (NYSE:CCI) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 8,675 shares of the real estate investment trust’s stock after buying an additional 176 shares during the period. V Square Quantitative Management LLC’s holdings in Crown Castle were worth $848,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new position in Crown Castle in the 4th quarter valued at about $25,000. Rational Advisors LLC acquired a new position in Crown Castle in the 1st quarter valued at approximately $27,000. EntryPoint Capital LLC acquired a new position in Crown Castle in the 1st quarter valued at approximately $27,000. Gables Capital Management Inc. increased its position in 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 valued at $30,000 after acquiring an additional 164 shares during the period. Finally, Richardson Financial Services Inc. bought a new position in Crown Castle during the fourth quarter worth $30,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’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 transaction of $1,128,784.76. Following the completion of the transaction, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CCI has been the subject of a number of analyst reports. The Goldman Sachs Group assumed coverage on shares of Crown Castle in a report on Monday, July 1st. They set a “neutral” rating and a $104.00 price objective for the company. BMO Capital Markets boosted their price target on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Raymond James reissued an “outperform” rating and issued a $126.00 price target (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Jefferies Financial Group reduced their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Barclays increased their price objective on Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 23rd. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.53.

Crown Castle Trading Up 0.1 %

Shares of Crown Castle stock traded up $0.14 during trading on Wednesday, reaching $110.49. 666,069 shares of the stock were exchanged, compared to its average volume of 2,731,177. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. The stock’s fifty day moving average is $102.55 and its 200 day moving average is $102.86. The firm has a market cap of $48.02 billion, a price-to-earnings ratio of 34.49 and a beta of 0.83. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $119.50.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping 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 company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the business posted $2.05 earnings per share. Crown Castle’s revenue for the quarter was down 12.9% on a year-over-year basis. As a group, equities research analysts expect that Crown Castle Inc. will post 6.63 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. Shareholders of record on Friday, September 13th will be issued a $1.565 dividend. The ex-dividend date is Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.67%. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

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.