Sherbrooke Park Advisers LLC Takes $867,000 Position in Crown Castle Inc. (NYSE:CCI)

Sherbrooke Park Advisers LLC bought a new position in Crown Castle Inc. (NYSE:CCI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,557 shares of the real estate investment trust's stock, valued at approximately $867,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raiffeisen Bank International AG bought a new position in shares of Crown Castle in the fourth quarter valued at approximately $170,000. Redwood Investment Management LLC lifted its position in shares of Crown Castle by 2.7% in the 4th quarter. Redwood Investment Management LLC now owns 17,898 shares of the real estate investment trust's stock valued at $1,624,000 after acquiring an additional 476 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Crown Castle by 1.9% in the 4th quarter. ProShare Advisors LLC now owns 111,571 shares of the real estate investment trust's stock valued at $10,126,000 after acquiring an additional 2,125 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Crown Castle by 131.7% in the 4th quarter. Quantinno Capital Management LP now owns 27,505 shares of the real estate investment trust's stock valued at $2,496,000 after acquiring an additional 15,633 shares in the last quarter. Finally, Mufg Securities Americas Inc. purchased a new stake in Crown Castle in the 4th quarter worth approximately $582,000. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Up 1.5%

Shares of CCI traded up $1.53 on Friday, reaching $102.30. 2,966,793 shares of the company's stock were exchanged, compared to its average volume of 2,879,350. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market capitalization of $44.55 billion, a P/E ratio of 36.28 and a beta of 0.93. The business has a 50 day moving average price of $101.78 and a two-hundred day moving average price of $97.49. 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 posted its quarterly 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 return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $1.72 earnings per share. The company's quarterly revenue was down 4.8% on a year-over-year basis. Research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.12%. The ex-dividend date was Friday, March 14th. Crown Castle's payout ratio is presently -58.18%.

Insider Activity

In related news, EVP Edward B. Adams, Jr. sold 8,000 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.37, for a total transaction of $850,960.00. Following the completion of the transaction, the executive vice president now owns 20,528 shares in the company, valued at approximately $2,183,563.36. This represents a 28.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the vice president now owns 6,465 shares of the company's stock, valued at $689,944.80. The trade was a 35.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,600 shares of company stock worth $3,362,752 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on CCI. KeyCorp increased their target price on shares of Crown Castle from $120.00 to $122.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Wolfe Research upgraded shares of Crown Castle from an "underperform" rating to a "peer perform" rating in a research report on Monday, March 17th. Barclays raised their price target on shares of Crown Castle from $104.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. JPMorgan Chase & Co. decreased their target price on shares of 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, JMP Securities lifted their target price on shares of Crown Castle from $115.00 to $125.00 and gave the company a "market outperform" rating in a research report on Thursday, May 1st. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Crown Castle has a consensus rating of "Moderate Buy" and a consensus price target of $112.41.

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.