ASR Vermogensbeheer N.V. Invests $761,000 in Crown Castle Inc. (NYSE:CCI)

Key Points

• ASR Vermogensbeheer N.V. has invested approximately $761,000 in Crown Castle Inc., acquiring 7,303 shares during the first quarter of the year.
• Crown Castle reported $1.02 earnings per share for its last quarter, surpassing estimates, but experienced a 4.2% decrease in revenue compared to the previous year.
• The company will pay a quarterly dividend of $1.0625 per share on September 30th, representing an annualized yield of 4.1%.

ASR Vermogensbeheer N.V. bought a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,303 shares of the real estate investment trust's stock, valued at approximately $761,000.

A number of other institutional investors also recently modified their holdings of CCI. Opal Wealth Advisors LLC purchased a new stake in Crown Castle in the 1st quarter valued at $26,000. Iron Horse Wealth Management LLC purchased a new stake in Crown Castle in the 1st quarter valued at $26,000. American National Bank & Trust purchased a new stake in Crown Castle in the 1st quarter valued at $29,000. Capital Advisors Ltd. LLC raised its position in Crown Castle by 62.1% in the 1st quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 133 shares during the last quarter. Finally, Vermillion Wealth Management Inc. purchased a new stake in Crown Castle in the 4th quarter valued at $38,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Performance

CCI stock opened at $104.58 on Friday. The company has a market capitalization of $45.54 billion, a price-to-earnings ratio of -9.80, a PEG ratio of 0.79 and a beta of 0.89. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The stock has a fifty day moving average of $103.33 and a 200-day moving average of $99.83.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 EPS. Equities analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $1.0625 per share. The ex-dividend date is Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.1%. Crown Castle's dividend payout ratio is presently -39.83%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CCI. Bank of America began coverage on Crown Castle in a research report on Monday, May 19th. They issued a "buy" rating and a $115.00 price target for the company. Barclays increased their price target on Crown Castle from $117.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. KeyCorp increased their price target on Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded Crown Castle from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $124.00 price objective (up previously from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $116.24.

About Crown Castle

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.

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