Presima Securities ULC Purchases 300 Shares of Crown Castle Inc. (NYSE:CCI)

Presima Securities ULC boosted its position in shares of Crown Castle Inc. (NYSE:CCI) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,795 shares of the real estate investment trust’s stock after buying an additional 300 shares during the period. Crown Castle makes up about 0.6% of Presima Securities ULC’s portfolio, making the stock its 25th biggest holding. Presima Securities ULC’s holdings in Crown Castle were worth $2,586,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. BOKF NA grew its holdings in shares of Crown Castle by 25.6% in the first quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after purchasing an additional 815 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Crown Castle by 0.9% in 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 buying an additional 8,136 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of Crown Castle in the 1st quarter worth about $4,425,000. O Shaughnessy Asset Management LLC raised 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 valued at $3,789,000 after buying an additional 8,346 shares in the last quarter. Finally, Norden Group LLC bought a new position in shares of Crown Castle in the 1st quarter valued at about $1,804,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CCI. Royal Bank of Canada boosted their price objective on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted 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. Bank of America raised their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. TD Cowen boosted their price objective 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. Finally, Barclays lifted their price target on shares of Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus price target of $115.86.

Crown Castle Price Performance

Shares of CCI stock opened at $115.78 on Thursday. The company has a market capitalization of $50.31 billion, a P/E ratio of 42.41 and a beta of 0.85. The company’s 50-day simple moving average is $113.98 and its two-hundred day simple moving average is $105.00. Crown Castle Inc. has a one year low of $84.72 and a one year high of $120.92. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. Crown Castle’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 earnings per share. As a group, equities analysts anticipate that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio is 229.30%.

Insider Transactions 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 sale, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.39% of the company’s stock.

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.