Bayesian Capital Management LP Purchases 27,900 Shares of Crown Castle Inc. (NYSE:CCI)

Bayesian Capital Management LP raised its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 105.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,400 shares of the real estate investment trust's stock after buying an additional 27,900 shares during the quarter. Crown Castle comprises approximately 0.6% of Bayesian Capital Management LP's investment portfolio, making the stock its 26th biggest holding. Bayesian Capital Management LP's holdings in Crown Castle were worth $4,937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CCI. Twin Tree Management LP acquired a new position in Crown Castle in the 4th quarter worth $25,000. FNY Investment Advisers LLC lifted its holdings in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of Crown Castle during the fourth quarter worth about $37,000. Marshall Investment Management LLC acquired a new stake in Crown Castle in the 4th quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Buying and Selling

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 8,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $106.37, for a total transaction of $850,960.00. Following the sale, the executive vice president now directly owns 20,528 shares in the company, valued at $2,183,563.36. This represents a 28.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Daniel K. Schlanger sold 20,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $106.38, for a total transaction of $2,127,600.00. Following the completion of the transaction, the chief executive officer now owns 110,571 shares of the company's stock, valued at $11,762,542.98. The trade was a 15.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,600 shares of company stock worth $3,362,752. Company insiders own 0.10% of the company's stock.

Crown Castle Stock Performance

NYSE CCI traded down $0.43 on Tuesday, reaching $106.55. The stock had a trading volume of 2,790,377 shares, compared to its average volume of 2,866,051. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a fifty day moving average of $100.90 and a two-hundred day moving average of $97.99. The company has a market cap of $46.39 billion, a P/E ratio of 37.78 and a beta of 0.93.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.62). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 earnings per share. On average, equities research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.88%. The ex-dividend date was Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is currently -58.18%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America assumed coverage on shares of Crown Castle in a report on Thursday, March 20th. They set a "neutral" rating and a $110.00 target price for the company. Moffett Nathanson lowered their target price on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Wells Fargo & Company raised Crown Castle from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $85.00 to $105.00 in a research report on Monday, March 17th. Citizens Jmp upgraded Crown Castle to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Barclays raised their target price on shares of Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle currently has a consensus rating of "Moderate Buy" and a consensus target price of $112.41.

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.