Bayforest Capital Ltd Has $1.84 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Bayforest Capital Ltd lifted its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 758.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,677 shares of the real estate investment trust's stock after purchasing an additional 15,619 shares during the period. Crown Castle accounts for approximately 0.8% of Bayforest Capital Ltd's investment portfolio, making the stock its 2nd biggest holding. Bayforest Capital Ltd's holdings in Crown Castle were worth $1,842,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of Crown Castle during the first quarter worth approximately $26,000. Iron Horse Wealth Management LLC bought a new position in Crown Castle during the 1st quarter worth $26,000. American National Bank & Trust bought a new position in Crown Castle during the 1st quarter worth $29,000. Capital Advisors Ltd. LLC increased its stake in Crown Castle by 62.1% during the 1st quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 133 shares during the period. Finally, Vermillion Wealth Management Inc. bought a new position in Crown Castle during the 4th quarter worth $38,000. Institutional investors own 90.77% of the company's stock.

Insider Transactions at Crown Castle

In other news, VP Robert Sean Collins sold 3,600 shares of Crown Castle stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.72, for a total value of $384,192.00. Following the completion of the transaction, the vice president directly owned 6,465 shares of the company's stock, valued at approximately $689,944.80. This trade represents a 35.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel K. Schlanger sold 20,000 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $106.38, for a total value of $2,127,600.00. Following the completion of the sale, the chief executive officer directly 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. In the last ninety days, insiders sold 31,600 shares of company stock valued at $3,362,752. Corporate insiders own 0.10% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on CCI. KeyCorp raised their price objective on Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. UBS Group lifted their price target on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research note on Friday, July 25th. JMP Securities reiterated a "market outperform" rating and issued a $125.00 price target on shares of Crown Castle in a research note on Thursday, July 24th. Barclays lifted their price target on Crown Castle from $117.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Bank of America started coverage on Crown Castle in a research note on Monday, May 19th. They issued a "buy" rating and a $115.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of "Moderate Buy" and a consensus target price of $116.18.

Crown Castle Stock Down 1.9%

CCI traded down $2.00 during midday trading on Thursday, hitting $104.97. 4,962,337 shares of the company were exchanged, compared to its average volume of 2,887,699. The firm's 50 day moving average price is $102.54 and its 200-day moving average price is $98.93. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The firm has a market capitalization of $45.71 billion, a P/E ratio of -9.84, a P/E/G ratio of 0.81 and a beta of 0.88.

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

Crown Castle Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $1.0625 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.25 annualized dividend and a dividend yield of 4.0%. Crown Castle's dividend payout ratio (DPR) is -39.83%.

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.