Country Club Bank Grows Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Country Club Bank boosted its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,769 shares of the real estate investment trust's stock after purchasing an additional 5,793 shares during the period. Country Club Bank's holdings in Crown Castle were worth $6,192,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Crown Castle by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust's stock valued at $5,672,451,000 after acquiring an additional 5,934,615 shares during the period. Wellington Management Group LLP increased its stake in Crown Castle by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock valued at $1,892,332,000 after acquiring an additional 3,321,249 shares during the last quarter. Geode Capital Management LLC increased its stake in Crown Castle by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust's stock valued at $1,119,225,000 after acquiring an additional 228,007 shares during the last quarter. Norges Bank purchased a new stake in Crown Castle during the fourth quarter valued at about $561,714,000. Finally, The Manufacturers Life Insurance Company boosted its position in Crown Castle by 1.0% during the fourth 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 buying an additional 58,903 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Buying and Selling at Crown Castle

In other news, EVP Edward B. Adams, Jr. sold 8,000 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $106.37, for a total value of $850,960.00. Following the sale, the executive vice president directly owned 20,528 shares in the company, valued at $2,183,563.36. The trade was a 28.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert Sean Collins sold 3,600 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.72, for a total transaction of $384,192.00. Following the completion of the sale, the vice president owned 6,465 shares in the company, valued at approximately $689,944.80. This trade represents a 35.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,600 shares of company stock worth $3,362,752. Insiders own 0.10% of the company's stock.

Crown Castle Stock Performance

Shares of Crown Castle stock traded down $1.28 on Friday, hitting $102.69. 1,804,492 shares of the company's stock were exchanged, compared to its average volume of 2,938,003. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The company has a 50-day simple moving average of $101.30 and a 200-day simple moving average of $97.34. The stock has a market capitalization of $44.72 billion, a PE ratio of -9.54, a PEG ratio of 0.79 and a beta of 0.88.

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

Crown Castle Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $1.0625 dividend. The ex-dividend date was Friday, June 13th. This represents a $4.25 dividend on an annualized basis and a yield of 4.14%. Crown Castle's dividend payout ratio is currently -39.50%.

Analyst Upgrades and Downgrades

CCI has been the subject of a number of analyst reports. UBS Group increased their target price on shares of Crown Castle from $118.00 to $124.00 and gave the stock a "buy" rating in a report on Tuesday. Wall Street Zen lowered shares of Crown Castle from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. KeyCorp raised their target price on shares of Crown Castle from $120.00 to $122.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Finally, Raymond James Financial raised shares of Crown Castle from an "outperform" rating to a "strong-buy" rating and reduced their price target for the company from $128.00 to $122.00 in a research report on Friday, March 14th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $113.06.

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.