McGlone Suttner Wealth Management Inc. Acquires New Holdings in Crown Castle Inc. (NYSE:CCI)

McGlone Suttner Wealth Management Inc. purchased a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,294 shares of the real estate investment trust's stock, valued at approximately $343,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCI. Vanguard Group Inc. increased its position in Crown Castle by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust's stock worth $5,672,451,000 after buying an additional 5,934,615 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Crown Castle by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock worth $1,892,332,000 after acquiring an additional 3,321,249 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Crown Castle by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust's stock worth $1,119,225,000 after acquiring an additional 228,007 shares during the last quarter. Norges Bank bought a new stake in Crown Castle in the 4th quarter valued at $561,714,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Crown Castle by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,144,359 shares of the real estate investment trust's stock valued at $557,662,000 after purchasing an additional 58,903 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

CCI has been the topic of several research reports. Royal Bank Of Canada upped their price objective on shares of Crown Castle from $107.00 to $112.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. KeyCorp lifted their target price on shares of Crown Castle from $120.00 to $122.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lowered their price target on shares of Crown Castle from $121.00 to $115.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Scotiabank boosted their price objective on Crown Castle from $99.00 to $109.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 22nd. Finally, Barclays upped their target price on Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Crown Castle presently has an average rating of "Moderate Buy" and a consensus target price of $112.71.

Crown Castle Stock Down 0.2%

Shares of NYSE:CCI traded down $0.25 during trading on Friday, reaching $102.92. 1,246,284 shares of the company traded hands, compared to its average volume of 2,936,756. The firm has a market capitalization of $44.82 billion, a PE ratio of -9.57, a PEG ratio of 0.80 and a beta of 0.88. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company's 50 day moving average is $101.48 and its two-hundred day moving average is $96.92.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.62). Crown Castle had a negative net margin of 78.12% and a negative return on equity of 164.40%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the firm earned $1.72 EPS. The firm's revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Friday, June 13th. Crown Castle's payout ratio is presently -39.50%.

Insider Transactions at Crown Castle

In other Crown Castle news, CEO Daniel K. Schlanger sold 20,000 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.38, for a total value of $2,127,600.00. Following the sale, the chief executive officer owned 110,571 shares of the company's stock, valued at approximately $11,762,542.98. This trade represents a 15.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert Sean Collins sold 3,600 shares of Crown Castle stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.72, for a total value of $384,192.00. Following the completion of the transaction, the vice president owned 6,465 shares in the company, valued at approximately $689,944.80. The trade was a 35.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,600 shares of company stock valued at $3,362,752. Company insiders own 0.10% 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.