Crown Castle Inc. (NYSE:CCI) Shares Purchased by Inman Jager Wealth Management LLC

Inman Jager Wealth Management LLC grew its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 114.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,952 shares of the real estate investment trust's stock after buying an additional 7,433 shares during the quarter. Crown Castle accounts for about 1.1% of Inman Jager Wealth Management LLC's investment portfolio, making the stock its 29th biggest position. Inman Jager Wealth Management LLC's holdings in Crown Castle were worth $1,454,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CCI. Vanguard Group Inc. grew its stake in Crown Castle by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust's stock worth $5,672,451,000 after acquiring an additional 5,934,615 shares in the last quarter. Wellington Management Group LLP grew its stake in Crown Castle by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock worth $1,892,332,000 after purchasing an additional 3,321,249 shares in the last quarter. Geode Capital Management LLC grew its stake in Crown Castle by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust's stock worth $1,119,225,000 after purchasing an additional 228,007 shares in the last quarter. Norges Bank bought a new position in shares of Crown Castle during the 4th quarter worth $561,714,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Crown Castle by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,144,359 shares of the real estate investment trust's stock worth $557,662,000 after buying an additional 58,903 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CCI. Barclays increased their price target on Crown Castle from $104.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. KeyCorp increased their target price on shares of Crown Castle from $120.00 to $122.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Wells Fargo & Company upgraded shares of Crown Castle from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $85.00 to $105.00 in a research note on Monday, March 17th. Bank of America began coverage on shares of Crown Castle in a research note on Monday, May 19th. They set a "buy" rating and a $115.00 price objective on the stock. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Crown Castle in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Crown Castle has an average rating of "Moderate Buy" and an average price target of $112.71.

Insider Buying and Selling

In other news, CEO Daniel K. Schlanger sold 20,000 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.38, for a total value of $2,127,600.00. Following the completion of the transaction, the chief executive officer now owns 110,571 shares of the company's stock, valued at $11,762,542.98. The trade was a 15.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $106.37, for a total value of $850,960.00. Following the completion of the transaction, the executive vice president now directly owns 20,528 shares of the company's stock, valued at approximately $2,183,563.36. This trade represents a 28.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,600 shares of company stock valued at $3,362,752 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Crown Castle Stock Performance

CCI stock traded up $0.36 during trading on Friday, reaching $100.71. The company had a trading volume of 3,004,443 shares, compared to its average volume of 2,921,327. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The firm has a 50-day simple moving average of $101.38 and a 200-day simple moving average of $96.67. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $43.86 billion, a price-to-earnings ratio of -9.36, a price-to-earnings-growth ratio of 0.78 and a beta of 0.88.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings data 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). Crown Castle had a negative return on equity of 164.40% and a negative net margin of 78.12%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm posted $1.72 earnings per share. The company's quarterly revenue was down 4.8% on a year-over-year basis. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Friday, June 13th. Crown Castle's dividend payout ratio (DPR) is -39.50%.

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.