Brookwood Investment Group LLC Buys Shares of 4,236 Crown Castle Inc. (NYSE:CCI)

Key Points

• Brookwood Investment Group LLC has made a new investment of $442,000 in Crown Castle Inc., acquiring 4,236 shares during the first quarter, as reported to the SEC.
• A significant portion of Crown Castle's stock, approximately 90.77%, is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Crown Castle reported negative earnings for the quarter with a net margin of -85.54%, alongside a dividend yield of 3.81% following their recent quarterly dividend announcement.

Brookwood Investment Group LLC bought a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 4,236 shares of the real estate investment trust's stock, valued at approximately $442,000.

Other institutional investors also recently bought and sold shares of the company. Principle Wealth Partners LLC purchased a new position in shares of Crown Castle in the 1st quarter valued at about $325,000. AE Wealth Management LLC boosted its stake in shares of Crown Castle by 15.9% in the 1st quarter. AE Wealth Management LLC now owns 6,787 shares of the real estate investment trust's stock valued at $707,000 after buying an additional 931 shares during the period. Abel Hall LLC boosted its stake in shares of Crown Castle by 1.8% in the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock valued at $666,000 after buying an additional 115 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Crown Castle by 69.5% in the 1st quarter. Proficio Capital Partners LLC now owns 13,965 shares of the real estate investment trust's stock valued at $1,456,000 after buying an additional 5,728 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Crown Castle by 0.7% in the 1st quarter. KLP Kapitalforvaltning AS now owns 149,979 shares of the real estate investment trust's stock valued at $15,632,000 after buying an additional 1,100 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 transaction of $2,127,600.00. Following the transaction, the chief executive officer owned 110,571 shares of the company's stock, valued at $11,762,542.98. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Robert Sean Collins sold 3,600 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.72, for a total value of $384,192.00. Following the transaction, the vice president directly owned 6,465 shares in the company, valued at $689,944.80. This represents a 35.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,600 shares of company stock valued at $3,362,752 over the last quarter. Company insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CCI. Scotiabank lifted their price objective on Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research note on Friday. Raymond James Financial reiterated 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. Citigroup lifted their price objective on Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Royal Bank Of Canada lifted their price objective on Crown Castle from $107.00 to $112.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Finally, UBS Group boosted their target price on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research note on Friday. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $115.94.

Crown Castle Stock Performance

NYSE CCI traded down $2.31 on Friday, reaching $111.60. The stock had a trading volume of 3,419,991 shares, compared to its average volume of 2,744,282. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The business's 50-day moving average price is $102.19 and its 200 day moving average price is $98.56. The stock has a market cap of $48.60 billion, a P/E ratio of -10.46, a price-to-earnings-growth ratio of 0.86 and a beta of 0.88.

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

Crown Castle Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Friday, June 13th. Crown Castle's dividend payout ratio is presently -39.50%.

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.