Capital Investment Advisors LLC Has $10.92 Million Stake in Crown Castle Inc. (NYSE:CCI)

Capital Investment Advisors LLC increased its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 23.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 104,720 shares of the real estate investment trust's stock after purchasing an additional 19,795 shares during the quarter. Capital Investment Advisors LLC's holdings in Crown Castle were worth $10,915,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CCI. OLD National Bancorp IN boosted its stake in Crown Castle by 4.1% during the 1st quarter. OLD National Bancorp IN now owns 103,252 shares of the real estate investment trust's stock valued at $10,762,000 after purchasing an additional 4,111 shares during the period. KMG Fiduciary Partners LLC lifted its holdings in shares of Crown Castle by 11.1% during the first quarter. KMG Fiduciary Partners LLC now owns 20,855 shares of the real estate investment trust's stock worth $2,174,000 after buying an additional 2,086 shares during the last quarter. Gateway Investment Advisers LLC bought a new stake in shares of Crown Castle in the first quarter valued at approximately $30,150,000. Pines Wealth Management LLC bought a new stake in shares of Crown Castle in the first quarter valued at approximately $206,000. Finally, Stablepoint Partners LLC grew its stake in shares of Crown Castle by 32.5% in the first quarter. Stablepoint Partners LLC now owns 58,693 shares of the real estate investment trust's stock worth $6,118,000 after acquiring an additional 14,399 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Crown Castle Stock Performance

CCI opened at $98.97 on Friday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The business has a 50 day moving average of $101.17 and a 200-day moving average of $97.09. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market cap of $43.10 billion, a price-to-earnings ratio of 35.09 and a beta of 0.88.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.62). The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company's revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business earned $1.72 earnings per share. On average, equities research analysts expect 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 will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.0625 per share. The ex-dividend date is Friday, June 13th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.29%. Crown Castle's payout ratio is presently -39.50%.

Insider Transactions at Crown Castle

In other news, CEO Daniel K. Schlanger sold 20,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 110,571 shares of the company's stock, valued at $11,762,542.98. The trade was a 15.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $106.37, for a total value of $850,960.00. Following the transaction, the executive vice president now owns 20,528 shares in the company, valued at $2,183,563.36. The trade was a 28.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,600 shares of company stock worth $3,362,752. Corporate insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CCI shares. New Street Research upgraded shares of Crown Castle from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 1st. Citigroup lifted their price objective on Crown Castle from $108.00 to $124.00 and gave the stock a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. lowered their price objective on Crown Castle from $121.00 to $115.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Scotiabank raised their target price on Crown Castle from $99.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company upgraded shares of Crown Castle from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $85.00 to $105.00 in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $112.71.

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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