Brookstone Capital Management boosted its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 24.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,881 shares of the real estate investment trust's stock after acquiring an additional 23,793 shares during the period. Brookstone Capital Management's holdings in Crown Castle were worth $12,599,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. CHICAGO TRUST Co NA boosted its position in Crown Castle by 3.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock worth $368,000 after acquiring an additional 104 shares during the last quarter. Beacon Capital Management LLC lifted its position in shares of Crown Castle by 36.6% in the first quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock worth $47,000 after purchasing an additional 120 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Crown Castle by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after purchasing an additional 120 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in Crown Castle by 62.1% in the first quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. Finally, Cidel Asset Management Inc. increased its stake in Crown Castle by 6.1% in the 1st quarter. Cidel Asset Management Inc. now owns 2,424 shares of the real estate investment trust's stock valued at $253,000 after buying an additional 139 shares during the last quarter. Institutional investors own 90.77% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on CCI. JPMorgan Chase & Co. decreased their price objective on Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Bank of America assumed coverage on Crown Castle in a research report on Monday, May 19th. They set a "buy" rating and a $115.00 price target on the stock. UBS Group raised Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price objective for the company in a report on Friday, March 14th. Wells Fargo & Company upgraded shares of Crown Castle from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $85.00 to $105.00 in a report on Monday, March 17th. Finally, JMP Securities increased their price target on shares of Crown Castle from $115.00 to $125.00 and gave the company a "market outperform" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.71.
Check Out Our Latest Report on CCI
Crown Castle Stock Performance
Shares of CCI stock traded down $0.25 on Friday, hitting $102.92. The company's stock had a trading volume of 1,246,284 shares, compared to its average volume of 2,929,989. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The company 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. The stock's 50 day moving average is $101.43 and its 200-day moving average is $96.84.
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 negative return on equity of 164.40% and a negative net margin of 78.12%. 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, research analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.
Crown Castle Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $1.0625 per share. 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 dividend payout ratio (DPR) is currently -39.50%.
Insider Buying and Selling
In related news, EVP Edward B. Adams, Jr. sold 8,000 shares of the company's 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 completion of the sale, the executive vice president owned 20,528 shares of the company's stock, valued at $2,183,563.36. This represents a 28.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel K. Schlanger sold 20,000 shares of the company'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 $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.
About Crown Castle
(
Free Report)
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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