Crown Castle Inc. (NYSE:CCI) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 264,082 shares of the real estate investment trust's stock after purchasing an additional 4,408 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Crown Castle worth $27,523,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Savant Capital LLC increased its holdings in Crown Castle by 12.5% during the 4th quarter. Savant Capital LLC now owns 4,051 shares of the real estate investment trust's stock worth $368,000 after purchasing an additional 450 shares during the period. Allworth Financial LP increased its stake in shares of Crown Castle by 1,522.1% during the fourth quarter. Allworth Financial LP now owns 60,408 shares of the real estate investment trust's stock worth $5,342,000 after buying an additional 56,684 shares during the period. Principal Financial Group Inc. increased its stake in shares of Crown Castle by 10.1% during the fourth quarter. Principal Financial Group Inc. now owns 601,740 shares of the real estate investment trust's stock worth $54,614,000 after buying an additional 55,117 shares during the period. CIBC Asset Management Inc raised its holdings in Crown Castle by 4.5% in the fourth quarter. CIBC Asset Management Inc now owns 66,920 shares of the real estate investment trust's stock valued at $6,074,000 after acquiring an additional 2,873 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Crown Castle by 3,207.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,323 shares of the real estate investment trust's stock worth $120,000 after acquiring an additional 1,283 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Activity at Crown Castle

In other Crown Castle news, VP Robert Sean Collins sold 3,600 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.72, for a total transaction of $384,192.00. Following the sale, the vice president now directly owns 6,465 shares in the company, valued at approximately $689,944.80. The trade was a 35.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel K. Schlanger sold 20,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $106.38, for a total transaction 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. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,600 shares of company stock worth $3,362,752 over the last 90 days. Company insiders own 0.10% of the company's stock.

Crown Castle Stock Performance

CCI stock traded up $0.47 during trading on Wednesday, hitting $99.28. The company had a trading volume of 3,549,370 shares, compared to its average volume of 2,917,255. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The firm has a 50-day moving average price of $101.16 and a 200-day moving average price of $96.76. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 4.43. The firm has a market cap of $43.23 billion, a PE ratio of -9.23, a price-to-earnings-growth ratio of 0.76 and a beta of 0.88.

Crown Castle (NYSE:CCI - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.62). Crown Castle had a negative net margin of 78.12% and a negative return on equity of 164.40%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm posted $1.72 EPS. The company's revenue for the quarter was down 4.8% on a year-over-year basis. On average, 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 declared 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $4.25 annualized dividend and a yield of 4.28%. Crown Castle's dividend payout ratio is currently -39.50%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of analyst reports. Argus upgraded shares of Crown Castle to a "hold" rating in a report on Friday, March 21st. JMP Securities raised their price target on Crown Castle from $115.00 to $125.00 and gave the company a "market outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company raised Crown Castle from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $85.00 to $105.00 in a report on Monday, March 17th. Wolfe Research raised Crown Castle from an "underperform" rating to a "peer perform" rating in a research report on Monday, March 17th. Finally, Barclays increased their price objective on Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, March 17th. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company 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.