Crown Castle Inc. (NYSE:CCI) Shares Bought by Umpqua Bank

Umpqua Bank increased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,895 shares of the real estate investment trust’s stock after purchasing an additional 141 shares during the period. Umpqua Bank’s holdings in Crown Castle were worth $478,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Ables Iannone Moore & Associates Inc. acquired a new position in Crown Castle in the 4th quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in Crown Castle during the 1st quarter worth approximately $27,000. Gables Capital Management Inc. raised its stake 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 buying an additional 164 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in shares of Crown Castle in the 4th quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC boosted its stake in shares of Crown Castle by 163.9% in the first 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 in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI stock opened at $116.12 on Friday. The stock has a market capitalization of $50.46 billion, a price-to-earnings ratio of 36.29 and a beta of 0.85. 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 52-week low of $84.72 and a 52-week high of $119.50. The stock’s fifty day simple moving average is $107.47 and its 200-day simple moving average is $103.40.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the company earned $2.05 EPS. The firm’s quarterly revenue was down 12.9% on a year-over-year basis. Equities research analysts expect that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 5.39%. The ex-dividend date is Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Insiders Place Their Bets

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction on 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 completion of the sale, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of recent analyst reports. The Goldman Sachs Group started coverage on Crown Castle in a report on Monday, July 1st. They issued a “neutral” rating and a $104.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price target on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. TD Cowen increased their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Raymond James restated an “outperform” rating and set 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 upped their price target on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Crown Castle presently has an average rating of “Hold” and an average price target 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.