Crown Castle Inc. (NYSE:CCI) Holdings Raised by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division grew its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 182.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,435 shares of the real estate investment trust's stock after purchasing an additional 8,681 shares during the period. Central Pacific Bank Trust Division's holdings in Crown Castle were worth $1,400,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Exchange Traded Concepts LLC grew its position in Crown Castle by 12.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust's stock worth $103,000 after buying an additional 126 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Crown Castle during the 4th quarter worth approximately $259,000. Blue Trust Inc. grew its holdings in shares of Crown Castle by 38.5% in the 4th quarter. Blue Trust Inc. now owns 3,782 shares of the real estate investment trust's stock worth $343,000 after acquiring an additional 1,051 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of Crown Castle by 104.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 277,045 shares of the real estate investment trust's stock worth $25,145,000 after acquiring an additional 141,293 shares during the period. Finally, Capital Investment Advisory Services LLC increased its stake in Crown Castle by 60.0% in the 4th quarter. Capital Investment Advisory Services LLC now owns 12,083 shares of the real estate investment trust's stock valued at $1,097,000 after purchasing an additional 4,529 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crown Castle

In other news, VP Robert Sean Collins sold 3,600 shares of the 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 sale, the vice president now owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the business's 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 directly owns 20,528 shares in the company, valued at $2,183,563.36. This trade represents a 28.04% decrease in their ownership of the stock. 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 three months. 0.10% of the stock is owned by company insiders.

Crown Castle Trading Up 0.6%

Shares of NYSE:CCI traded up $0.59 during trading on Wednesday, reaching $100.45. 1,082,164 shares of the stock were exchanged, compared to its average volume of 2,880,421. The firm's 50-day moving average price is $101.43 and its 200 day moving average price is $97.19. The firm has a market cap of $43.74 billion, a price-to-earnings ratio of 35.62 and a beta of 0.93. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle (NYSE:CCI - Get Free Report) last released 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. Crown Castle's quarterly revenue was down 4.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $1.0625 dividend. The ex-dividend date is Friday, June 13th. This represents a $4.25 annualized dividend and a yield of 4.23%. Crown Castle's dividend payout ratio is currently -39.50%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CCI. Bank of America started coverage on Crown Castle in a research report on Monday, May 19th. They set a "buy" rating and a $115.00 target price on the stock. Wolfe Research upgraded Crown Castle from an "underperform" rating to a "peer perform" rating in a report on Monday, March 17th. Citigroup lifted their price target on shares of Crown Castle from $108.00 to $124.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Raymond James upgraded Crown Castle from an "outperform" rating to a "strong-buy" rating and cut their price target for the company from $128.00 to $122.00 in a report on Friday, March 14th. Finally, New Street Research upgraded Crown Castle from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $112.71.

Crown Castle Company 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.