Crown Castle Inc. (NYSE:CCI) Shares Bought by Ieq Capital LLC

Ieq Capital LLC increased its holdings in Crown Castle Inc. (NYSE:CCI) by 5.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,552 shares of the real estate investment trust’s stock after buying an additional 1,171 shares during the period. Ieq Capital LLC’s holdings in Crown Castle were worth $2,106,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Daiwa Securities Group Inc. boosted its stake in Crown Castle by 4,097.8% in the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock valued at $246,617,000 after acquiring an additional 2,464,094 shares during the period. M&G Plc bought a new stake in shares of Crown Castle in the 1st quarter worth approximately $221,573,000. Balyasny Asset Management L.P. boosted its position in Crown Castle by 18,200.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,651,456 shares of the real estate investment trust’s stock valued at $190,231,000 after purchasing an additional 1,642,432 shares during the period. Cooke & Bieler LP grew its stake in Crown Castle by 95.8% during the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock worth $251,962,000 after buying an additional 1,261,536 shares during the last quarter. Finally, Capital International Investors increased its position in Crown Castle by 68,262.1% in the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock worth $131,239,000 after buying an additional 1,238,274 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insider Transactions at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value of $1,128,784.76. Following the completion of the transaction, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CCI shares. The Goldman Sachs Group began coverage on shares of Crown Castle in a report on Monday, July 1st. They set a “neutral” rating and a $104.00 price target for the company. Bank of America upped their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Raymond James reaffirmed an “outperform” rating and set a $126.00 price target (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Royal Bank of Canada increased their price objective on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets lifted their target price on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $113.53.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $115.33 on Friday. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $120.92. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. The company’s 50-day moving average price is $111.58 and its two-hundred day moving average price is $104.05. The stock has a market cap of $50.11 billion, a PE ratio of 36.04 and a beta of 0.85.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.05 earnings per share. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.64 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Friday, September 13th. Crown Castle’s payout ratio is 195.63%.

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.