Crown Castle Inc. $CCI Shares Newly Bought by Sigma Planning Corp

Key Points

• Sigma Planning Corp bought 22,308 Crown Castle shares in the third quarter, valued at approximately $1.49 million. Institutional investors collectively own 90.77% of the company.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $94.27, despite several firms recently lowering their targets.
• Crown Castle reported quarterly revenue of $995 million and adjusted earnings of $0.67 per share, both below expectations. The company maintains a $1.0625 quarterly dividend, equating to a 4.8% yield.

Sigma Planning Corp bought a new position in Crown Castle Inc. (NYSE:CCI - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,308 shares of the real estate investment trust's stock, valued at approximately $1,487,000.

Other hedge funds also recently bought and sold shares of the company. Pingora Partners LLC bought a new stake in shares of Crown Castle in the 2nd quarter worth approximately $30,000. Global Assets Advisory LLC bought a new position in shares of Crown Castle during the first quarter valued at approximately $32,000. Anchor Investment Management LLC raised its holdings in shares of Crown Castle by 242.8% during the second quarter. Anchor Investment Management LLC now owns 473 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 335 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in Crown Castle in the second quarter worth $42,000. Finally, CX Institutional lifted its stake in Crown Castle by 106.3% in the third quarter. CX Institutional now owns 819 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 422 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Activity

In related news, VP Robert Collins sold 1,500 shares of Crown Castle stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the transaction, the vice president directly owned 5,113 shares of the company's stock, valued at $388,025.57. This trade represents a 22.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CCI shares. Jefferies Financial Group cut their price target on shares of Crown Castle from $88.00 to $82.00 and set a "hold" rating on the stock in a report on Wednesday, July 15th. Citizens Jmp decreased their price objective on shares of Crown Castle from $125.00 to $120.00 and set a "market outperform" rating for the company in a report on Friday, July 24th. TD Cowen raised their target price on shares of Crown Castle from $92.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, October 22nd. BMO Capital Markets dropped their target price on shares of Crown Castle to $93.00 and set an "outperform" rating for the company in a research report on Monday, October 19th. Finally, Weiss Ratings raised shares of Crown Castle from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $94.27.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $87.80 on Thursday. The firm has a market capitalization of $37.35 billion, a P/E ratio of 46.21, a P/E/G ratio of 0.77 and a beta of 0.94. The stock has a 50 day moving average price of $75.23 and a 200-day moving average price of $82.22. Crown Castle Inc. has a 52-week low of $65.32 and a 52-week high of $95.32.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.02). The firm had revenue of $995.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Crown Castle had a net margin of 20.12% and a negative return on equity of 42.11%. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.12 earnings per share. On average, equities analysts forecast that Crown Castle Inc. will post 4.41 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Tuesday, September 15th. Crown Castle's dividend payout ratio (DPR) is presently 223.68%.

Crown Castle Company Profile

Crown Castle Inc NYSE: CCI is a real estate investment trust that owns, operates and leases communications infrastructure in the United States. Its assets support wireless carriers, broadcasters, government agencies and other communications providers by enabling the transmission of voice, data and video services.

The company's infrastructure has historically included approximately 40,000 cell towers, about 90,000 route miles of fiber and a large portfolio of small-cell installations.

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