Gilman Hill Asset Management LLC Boosts Stock Position in Crown Castle Inc. (NYSE:CCI)

Gilman Hill Asset Management LLC lifted its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 139.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,921 shares of the real estate investment trust's stock after purchasing an additional 49,977 shares during the period. Crown Castle accounts for approximately 1.6% of Gilman Hill Asset Management LLC's investment portfolio, making the stock its 15th biggest holding. Gilman Hill Asset Management LLC's holdings in Crown Castle were worth $8,956,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Tree Management LP bought a new position in Crown Castle in the fourth quarter valued at about $25,000. American National Bank & Trust bought a new position in Crown Castle in the 1st quarter valued at approximately $29,000. Roxbury Financial LLC acquired a new position in Crown Castle in the 4th quarter valued at approximately $37,000. Vermillion Wealth Management Inc. bought a new position in shares of Crown Castle during the fourth quarter valued at $38,000. Finally, Versant Capital Management Inc lifted its holdings in Crown Castle by 95.2% during the 1st quarter. Versant Capital Management Inc now owns 408 shares of the real estate investment trust's stock worth $43,000 after buying an additional 199 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

Crown Castle stock traded down $1.32 during midday trading on Friday, reaching $98.97. 2,805,471 shares of the stock traded hands, compared to its average volume of 2,895,161. The stock has a market cap of $43.10 billion, a P/E ratio of 35.09 and a beta of 0.88. The stock's fifty day moving average is $101.28 and its 200-day moving average is $97.18. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.62). The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle's quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.72 earnings per share. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Friday, June 13th. Crown Castle's payout ratio is currently -39.50%.

Insiders Place Their Bets

In other news, CEO Daniel K. Schlanger sold 20,000 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now directly owns 110,571 shares in the company, valued at approximately $11,762,542.98. This trade represents a 15.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the firm'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 transaction of $850,960.00. Following the sale, the executive vice president now directly owns 20,528 shares in the company, valued at approximately $2,183,563.36. The trade was a 28.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,600 shares of company stock worth $3,362,752. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CCI has been the subject of a number of recent analyst reports. New Street Research upgraded Crown Castle from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 1st. Bank of America assumed 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. Royal Bank of Canada raised their price objective on shares of Crown Castle from $107.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Citigroup raised their price objective on shares of Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, KeyCorp upped their price objective on shares of Crown Castle from $120.00 to $122.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $112.71.

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.