Natixis Advisors LLC Purchases 88,439 Shares of Crown Castle Inc. (NYSE:CCI)

Natixis Advisors LLC raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 35.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 340,508 shares of the real estate investment trust’s stock after purchasing an additional 88,439 shares during the quarter. Natixis Advisors LLC owned 0.08% of Crown Castle worth $33,268,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Crown Castle by 12.8% in the first quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 108 shares in the last quarter. Gilbert & Cook Inc. boosted its holdings in Crown Castle by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock worth $355,000 after acquiring an additional 110 shares during the last quarter. Benedict Financial Advisors Inc. grew its stake in shares of Crown Castle by 4.0% in the 1st quarter. Benedict Financial Advisors Inc. now owns 2,947 shares of the real estate investment trust’s stock worth $312,000 after acquiring an additional 113 shares in the last quarter. HM Payson & Co. grew its stake in shares of Crown Castle by 5.3% in the 1st quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock worth $239,000 after acquiring an additional 114 shares in the last quarter. Finally, OFI Invest Asset Management raised its holdings in shares of Crown Castle by 41.5% in the first quarter. OFI Invest Asset Management now owns 402 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Up 0.3 %

Shares of CCI stock opened at $112.02 on Tuesday. The company has a market capitalization of $48.68 billion, a PE ratio of 35.01 and a beta of 0.85. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50. The business’s fifty day moving average is $106.06 and its 200 day moving average is $103.20. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43.

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

Crown Castle Dividend Announcement

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 given a $1.565 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.59%. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Insider Activity at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction dated 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 directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on CCI shares. Bank of America boosted their price target on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft boosted their target price on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group initiated coverage on Crown Castle in a research report on Monday, July 1st. They set a “neutral” rating and a $104.00 price target for the company. Royal Bank of Canada boosted their price objective on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Finally, TD Cowen raised their target price on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Twelve research 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.com, the company presently has an average rating of “Hold” and a consensus target price of $113.53.

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.