FLC Capital Advisors Invests $216,000 in Crown Castle Inc. (NYSE:CCI)

FLC Capital Advisors purchased a new position in Crown Castle Inc. (NYSE:CCI) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 1,823 shares of the real estate investment trust’s stock, valued at approximately $216,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Crown Castle by 1.2% during the 1st 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 buying an additional 673,243 shares in the last quarter. Legal & General Group Plc boosted its position in Crown Castle by 1.1% during the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after purchasing an additional 67,072 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Crown Castle by 10.7% in the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after acquiring an additional 391,127 shares in the last quarter. ClearBridge Investments Ltd increased its holdings in shares of Crown Castle by 19.4% in the first quarter. ClearBridge Investments Ltd now owns 2,632,855 shares of the real estate investment trust’s stock valued at $278,635,000 after purchasing an additional 428,597 shares during the last quarter. Finally, Cooke & Bieler LP increased its holdings in shares of Crown Castle by 95.8% in the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after purchasing an additional 1,261,536 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CCI. TD Cowen boosted their price objective on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft upped their target price on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. BMO Capital Markets upped their price objective on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Bank of America increased their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada upped their price target on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $115.86.

Insider Buying and Selling at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by corporate insiders.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $115.78 on Thursday. Crown Castle Inc. has a one year low of $84.72 and a one year high of $120.92. The business’s fifty day moving average price is $113.98 and its two-hundred day moving average price is $105.00. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $50.31 billion, a PE ratio of 42.41 and a beta of 0.85.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. Crown Castle’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $1.77 EPS. On average, analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is presently 229.30%.

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.