TT Capital Management LLC Raises Stock Holdings in Crown Castle Inc. (NYSE:CCI)

TT Capital Management LLC increased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 11.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,382 shares of the real estate investment trust's stock after buying an additional 3,606 shares during the period. Crown Castle accounts for 3.1% of TT Capital Management LLC's portfolio, making the stock its 7th largest holding. TT Capital Management LLC's holdings in Crown Castle were worth $3,688,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Twin Tree Management LP acquired a new position in Crown Castle in the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new position in Crown Castle during the first quarter valued at approximately $26,000. American National Bank & Trust acquired a new position in Crown Castle during the first quarter valued at approximately $29,000. Capital Advisors Ltd. LLC grew its holdings in Crown Castle by 62.1% during the first quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. Finally, Vermillion Wealth Management Inc. acquired a new position in Crown Castle during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Price Performance

Crown Castle stock traded up $2.29 during mid-day trading on Monday, hitting $102.47. 5,335,749 shares of the company were exchanged, compared to its average volume of 2,932,425. 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 business has a fifty day moving average of $101.38 and a 200 day moving average of $96.61. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a market capitalization of $44.62 billion, a PE ratio of -9.52, a price-to-earnings-growth ratio of 0.77 and a beta of 0.88.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share 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 business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $1.72 earnings per share. The business's quarterly revenue was down 4.8% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $1.0625 dividend. The ex-dividend date is Friday, June 13th. This represents a $4.25 dividend on an annualized basis and a yield of 4.15%. Crown Castle's payout ratio is -39.50%.

Insider Buying and Selling

In other Crown Castle news, CEO Daniel K. Schlanger sold 20,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.38, for a total transaction of $2,127,600.00. Following the transaction, the chief executive officer now owns 110,571 shares in the company, valued at approximately $11,762,542.98. This trade represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert Sean Collins sold 3,600 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.72, for a total value of $384,192.00. Following the transaction, the vice president now owns 6,465 shares in the company, valued at approximately $689,944.80. This trade represents a 35.77% 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 three months. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on CCI shares. Bank of America started coverage on Crown Castle in a report on Monday, May 19th. They set a "buy" rating and a $115.00 price target on the stock. Wells Fargo & Company upgraded Crown Castle from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $85.00 to $105.00 in a report on Monday, March 17th. JMP Securities increased their price target on Crown Castle from $115.00 to $125.00 and gave the company a "market outperform" rating in a report on Thursday, May 1st. UBS Group raised Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price objective for the company in a research report on Friday, March 14th. Finally, Wolfe Research raised Crown Castle from an "underperform" rating to a "peer perform" rating in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $112.71.

Crown Castle 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.