Crossmark Global Holdings Inc. Has $7.92 Million Stake in Crown Castle Inc. (NYSE:CCI)

Crossmark Global Holdings Inc. raised its stake in Crown Castle Inc. (NYSE:CCI) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,025 shares of the real estate investment trust’s stock after purchasing an additional 5,264 shares during the period. Crossmark Global Holdings Inc.’s holdings in Crown Castle were worth $7,916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Crown Castle by 1.2% in the first quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock valued at $5,990,991,000 after purchasing an additional 673,243 shares during the last quarter. Cohen & Steers Inc. increased its holdings in shares of Crown Castle by 7.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after purchasing an additional 834,198 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Crown Castle by 11.1% in the fourth quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock valued at $1,297,147,000 after purchasing an additional 1,126,394 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Crown Castle by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,478,477 shares of the real estate investment trust’s stock valued at $625,975,000 after purchasing an additional 122,948 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Crown Castle in the fourth quarter valued at $581,503,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. 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 report on Thursday, July 18th. The Goldman Sachs Group assumed coverage on shares of Crown Castle in a research report on Monday, July 1st. They issued a “neutral” rating and a $104.00 target price for the company. Raymond James reissued an “outperform” rating and issued a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Finally, Royal Bank of Canada boosted their target price on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average price target of $113.53.

Crown Castle Price Performance

Shares of CCI stock traded up $0.33 on Friday, reaching $112.01. The company had a trading volume of 3,510,933 shares, compared to its average volume of 2,662,651. The stock has a market capitalization of $48.68 billion, a PE ratio of 35.01 and a beta of 0.83. 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 one year low of $84.72 and a one year high of $119.50. The business’s 50-day moving average is $105.46 and its 200 day moving average is $103.18.

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 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 company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm posted $2.05 earnings per share. The firm’s revenue was down 12.9% compared to the same quarter last year. Equities research analysts forecast that Crown Castle Inc. will post 6.64 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.59%. The ex-dividend date is Friday, September 13th. Crown Castle’s dividend payout ratio is currently 195.63%.

Insider Activity

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is currently owned by insiders.

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.