McGlone Suttner Wealth Management Inc. Purchases 531 Shares of Crown Castle Inc. (NYSE:CCI)

McGlone Suttner Wealth Management Inc. boosted its position in shares of Crown Castle Inc. (NYSE:CCI) by 27.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,445 shares of the real estate investment trust’s stock after purchasing an additional 531 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Crown Castle were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BOKF NA raised its holdings in Crown Castle by 25.6% during the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock worth $417,000 after purchasing an additional 815 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Crown Castle by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock worth $98,570,000 after purchasing an additional 8,136 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Crown Castle during the 1st quarter worth about $4,425,000. O Shaughnessy Asset Management LLC grew its position in shares of Crown Castle by 30.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after buying an additional 8,346 shares during the period. Finally, Norden Group LLC acquired a new position in shares of Crown Castle during the 1st quarter worth about $1,804,000. 90.77% of the stock is owned by institutional investors.

Insider Activity at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction on Tuesday, July 23rd. The stock was 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 in the company, valued at approximately $7,792,172.44. This represents a 0.00 % decrease in their position. 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 owned by company insiders.

Crown Castle Trading Up 0.8 %

Shares of Crown Castle stock opened at $110.81 on Monday. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $120.92. The stock has a market cap of $48.15 billion, a P/E ratio of 40.59 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. The business’s 50 day moving average is $113.84 and its 200-day moving average is $104.82.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data 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 company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the business posted $2.05 EPS. The business’s revenue was down 12.9% compared to the same quarter last year. Equities research analysts predict that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 229.30%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CCI shares. Barclays boosted their target price on Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Thursday. TD Cowen boosted their target price on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. boosted their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Bank of America boosted their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada boosted their price objective on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $115.67.

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.