S Bank Fund Management Ltd Makes New $3.86 Million Investment in Crown Castle Inc. (NYSE:CCI)

Key Points

• S Bank Fund Management Ltd has acquired a new stake in Crown Castle Inc., purchasing 37,066 shares valued at approximately $3.86 million during the first quarter.
• Crown Castle recently posted earnings per share (EPS) of $1.02 for the quarter, beating analyst estimates of $1.00 but reflected a decline in revenue compared to the previous year.
• The company has announced a quarterly dividend of $1.0625 per share, which will be paid on September 30th, representing an annualized dividend yield of 4.2%.

S Bank Fund Management Ltd purchased a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 37,066 shares of the real estate investment trust's stock, valued at approximately $3,863,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at $26,000. Iron Horse Wealth Management LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at $26,000. Stone House Investment Management LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at $27,000. American National Bank & Trust acquired a new position in shares of Crown Castle in the 1st quarter valued at $29,000. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of Crown Castle by 62.1% in the 1st quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CCI shares. JPMorgan Chase & Co. upped their target price on shares of Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a 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. Citigroup upped their target price on shares of Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a report on Monday, May 5th. BMO Capital Markets upped their target price on shares of Crown Castle from $108.00 to $115.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $116.24.

Crown Castle Stock Performance

NYSE CCI traded up $0.56 during trading hours on Friday, reaching $101.61. The company's stock had a trading volume of 2,849,875 shares, compared to its average volume of 3,616,050. The stock has a market cap of $44.25 billion, a PE ratio of -9.52, a PEG ratio of 0.77 and a beta of 0.89. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The company's 50-day moving average is $103.56 and its two-hundred day moving average is $100.27.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.02. The firm 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 revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 EPS. Equities analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

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

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.