Stonegate Investment Group LLC Has $2.30 Million Position in Crown Castle Inc. (NYSE:CCI)

Stonegate Investment Group LLC lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 20.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,363 shares of the real estate investment trust’s stock after buying an additional 3,285 shares during the quarter. Stonegate Investment Group LLC’s holdings in Crown Castle were worth $2,297,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CCI. BOKF NA raised its holdings in Crown Castle by 25.6% during the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock worth $417,000 after purchasing an additional 815 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Crown Castle by 0.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock valued at $98,570,000 after acquiring an additional 8,136 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Crown Castle during the 1st quarter worth $4,425,000. O Shaughnessy Asset Management LLC raised its position in shares of Crown Castle by 30.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock valued at $3,789,000 after acquiring an additional 8,346 shares during the last quarter. Finally, Norden Group LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at $1,804,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Barclays boosted their price objective on shares of Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. BMO Capital Markets raised their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Finally, UBS Group upped their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $115.29.

Crown Castle Stock Performance

NYSE:CCI remained flat at $111.75 during trading hours on Friday. The company had a trading volume of 388,085 shares, compared to its average volume of 2,627,467. The business’s 50 day moving average is $114.00 and its two-hundred day moving average is $105.05. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $120.92. The company has a market cap of $48.56 billion, a PE ratio of 40.93 and a beta of 0.85. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. Crown Castle’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $1.77 EPS. Equities research analysts predict that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.60%. Crown Castle’s dividend payout ratio is currently 229.30%.

Insiders Place Their Bets

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by corporate insiders.

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.