Two Sigma Investments LP Acquires 73,929 Shares of Crown Castle Inc. (NYSE:CCI)

Two Sigma Investments LP boosted its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 327.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,529 shares of the real estate investment trust's stock after buying an additional 73,929 shares during the quarter. Two Sigma Investments LP's holdings in Crown Castle were worth $8,761,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Twin Tree Management LP acquired a new position in shares of Crown Castle in the 4th quarter valued at $25,000. Roxbury Financial LLC purchased a new stake in shares of Crown Castle during the 4th quarter worth about $37,000. Marshall Investment Management LLC purchased a new stake in shares of Crown Castle during the 4th quarter worth about $50,000. Bank of Jackson Hole Trust bought a new position in shares of Crown Castle in the 4th quarter valued at approximately $53,000. Finally, South Plains Financial Inc. acquired a new stake in Crown Castle in the 4th quarter valued at approximately $59,000. Institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

CCI has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Crown Castle from $121.00 to $115.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Wolfe Research raised Crown Castle from an "underperform" rating to a "peer perform" rating in a research note on Monday, March 17th. Bank of America assumed coverage on Crown Castle in a research note on Monday, May 19th. They issued a "buy" rating and a $115.00 price target on the stock. Scotiabank lifted their price objective on Crown Castle from $99.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 22nd. Finally, UBS Group raised Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price objective on the stock in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $112.71.

Crown Castle Stock Performance

CCI traded down $0.98 during trading on Wednesday, hitting $99.57. The stock had a trading volume of 1,901,219 shares, compared to its average volume of 2,875,030. The company has a 50 day moving average price of $101.74 and a 200-day moving average price of $97.30. The firm has a market cap of $43.36 billion, a price-to-earnings ratio of 35.31 and a beta of 0.93. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.62). The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.72 earnings per share. As a group, research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Cuts Dividend

The business also recently announced 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 of this dividend is Friday, June 13th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.27%. Crown Castle's payout ratio is -39.50%.

Insider Activity

In other news, EVP Edward B. Adams, Jr. sold 8,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.37, for a total transaction of $850,960.00. Following the completion of the sale, the executive vice president now directly owns 20,528 shares in the company, valued at approximately $2,183,563.36. This represents a 28.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel K. Schlanger sold 20,000 shares of the company's 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 approximately $11,762,542.98. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,600 shares of company stock worth $3,362,752. 0.10% of the stock is currently owned by company insiders.

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.