Sophron Capital Management L.P. Buys Shares of 56,971 Crown Castle Inc. (NYSE:CCI)

Sophron Capital Management L.P. acquired a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 56,971 shares of the real estate investment trust's stock, valued at approximately $5,171,000. Crown Castle comprises about 2.0% of Sophron Capital Management L.P.'s investment portfolio, making the stock its 21st biggest position.

Several other hedge funds have also made changes to their positions in the business. Twin Tree Management LP purchased a new position in shares of Crown Castle in the 4th quarter worth $25,000. Roxbury Financial LLC purchased a new position in shares of Crown Castle in the 4th quarter worth $37,000. Marshall Investment Management LLC purchased a new position in shares of Crown Castle in the 4th quarter worth $50,000. Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle in the 4th quarter worth $53,000. Finally, South Plains Financial Inc. purchased a new position in shares of Crown Castle in the 4th quarter worth $59,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Stock Performance

Shares of CCI traded down $1.64 during mid-day trading on Thursday, reaching $99.88. 2,992,698 shares of the company's stock traded hands, compared to its average volume of 2,879,503. The business's 50-day moving average price is $102.06 and its 200-day moving average price is $97.53. The stock has a market capitalization of $43.49 billion, a P/E ratio of 35.42 and a beta of 0.93. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. 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 announced its 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $1.72 EPS. Crown Castle's revenue for the quarter was down 4.8% on a year-over-year basis. Equities analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $1.0625 per share. The ex-dividend date is Friday, June 13th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.26%. Crown Castle's dividend payout ratio (DPR) is presently -58.18%.

Insider Activity

In other news, VP Robert Sean Collins sold 3,600 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.72, for a total transaction of $384,192.00. Following the completion of the sale, the vice president now owns 6,465 shares in the company, valued at approximately $689,944.80. This represents a 35.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel K. Schlanger sold 20,000 shares of the 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 owns 110,571 shares of the company's stock, valued at $11,762,542.98. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,600 shares of company stock worth $3,362,752. Insiders own 0.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Moffett Nathanson cut their price objective on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. New Street Research raised Crown Castle from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 1st. Bank of America assumed coverage on Crown Castle in a research report on Monday. They issued a "buy" rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Crown Castle from $121.00 to $115.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Finally, Royal Bank of Canada raised their price objective on Crown Castle from $107.00 to $112.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, ten have assigned 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, Crown Castle presently has a consensus rating of "Moderate Buy" and an average target price of $112.71.

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.