Crown Castle Inc. (NYSE:CCI) Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Crown Castle Inc. by 7.1%, now holding 4,690,187 shares valued at approximately $488.86 million.
• Crown Castle announced a quarterly dividend of $1.0625 per share, with an annualized yield of 4.1% and a negative dividend payout ratio of -39.83%.
• The company reported earnings of $1.02 per share, exceeding estimates, but experienced a 4.2% year-over-year decline in quarterly revenue.

Invesco Ltd. raised its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,690,187 shares of the real estate investment trust's stock after purchasing an additional 310,174 shares during the quarter. Invesco Ltd. owned approximately 1.08% of Crown Castle worth $488,858,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. True North Advisors LLC bought a new position in Crown Castle during the 1st quarter valued at approximately $209,000. Benjamin Edwards Inc. grew its stake in shares of Crown Castle by 41.8% during the 1st quarter. Benjamin Edwards Inc. now owns 10,311 shares of the real estate investment trust's stock valued at $1,075,000 after purchasing an additional 3,039 shares during the period. JPMorgan Chase & Co. increased its holdings in Crown Castle by 107.3% during the first quarter. JPMorgan Chase & Co. now owns 2,730,309 shares of the real estate investment trust's stock valued at $284,580,000 after buying an additional 1,412,992 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Crown Castle in the 1st quarter worth $74,000. Finally, NS Partners Ltd lifted its holdings in Crown Castle by 0.4% during the first quarter. NS Partners Ltd now owns 156,032 shares of the real estate investment trust's stock valued at $16,263,000 after purchasing an additional 553 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Performance

Crown Castle stock traded down $0.75 during trading on Thursday, reaching $101.08. The company had a trading volume of 2,249,102 shares, compared to its average volume of 3,247,423. The firm's 50-day simple moving average is $103.49 and its 200 day simple moving average is $100.04. The firm has a market capitalization of $44.02 billion, a PE ratio of -9.47, a price-to-earnings-growth ratio of 0.77 and a beta of 0.89. 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 announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 EPS. Analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.2%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is presently -39.83%.

Analyst Ratings Changes

A number of research analysts recently commented on CCI shares. Bank of America assumed coverage on Crown Castle in a report on Monday, May 19th. They issued a "buy" rating and a $115.00 price target on the stock. BMO Capital Markets increased their price objective on shares of Crown Castle from $108.00 to $115.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. New Street Research upgraded shares of Crown Castle from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 1st. Scotiabank lifted their target price on Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $116.24.

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.