Edgestream Partners L.P. Invests $1.62 Million in Crown Castle Inc. (NYSE:CCI)

Edgestream Partners L.P. bought a new position in Crown Castle Inc. (NYSE:CCI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,574 shares of the real estate investment trust's stock, valued at approximately $1,623,000.

Several other hedge funds have also added to or reduced their stakes in the stock. CWM LLC boosted its holdings in Crown Castle by 12.2% in the first quarter. CWM LLC now owns 19,153 shares of the real estate investment trust's stock worth $1,996,000 after acquiring an additional 2,082 shares in the last quarter. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle during the first quarter valued at $26,000. Arizona State Retirement System lifted its holdings in shares of Crown Castle by 2.8% during the first quarter. Arizona State Retirement System now owns 127,542 shares of the real estate investment trust's stock valued at $13,294,000 after purchasing an additional 3,474 shares in the last quarter. Kathmere Capital Management LLC bought a new position in shares of Crown Castle during the first quarter valued at $431,000. Finally, Applied Capital LLC FL lifted its holdings in shares of Crown Castle by 23.9% during the first quarter. Applied Capital LLC FL now owns 15,131 shares of the real estate investment trust's stock valued at $1,577,000 after purchasing an additional 2,917 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

Shares of Crown Castle stock traded up $0.95 on Friday, reaching $105.19. The company had a trading volume of 5,210,610 shares, compared to its average volume of 2,940,733. The firm has a market cap of $45.81 billion, a price-to-earnings ratio of -9.78, a P/E/G ratio of 0.81 and a beta of 0.88. The firm's 50-day moving average price is $101.14 and its two-hundred day moving average price is $97.79. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

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

Crown Castle Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Friday, June 13th. Crown Castle's dividend payout ratio (DPR) is presently -39.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. New Street Research raised Crown Castle from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 1st. KeyCorp increased their target price on Crown Castle from $120.00 to $122.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. BMO Capital Markets reissued a "market perform" rating on shares of Crown Castle in a report on Tuesday, March 25th. Citigroup increased their target price on Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Scotiabank increased their target price on Crown Castle from $99.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, April 22nd. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $113.38.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 8,000 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.37, for a total transaction of $850,960.00. Following the sale, the executive vice president owned 20,528 shares in the company, valued at approximately $2,183,563.36. The trade was a 28.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $106.72, for a total value of $384,192.00. Following the sale, the vice president owned 6,465 shares in the company, valued at approximately $689,944.80. The trade was a 35.77% decrease in their position. 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. 0.10% of the stock is owned by insiders.

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.