Dorsey & Whitney Trust CO LLC Has $644,000 Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Dorsey & Whitney Trust CO LLC lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 17.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,596 shares of the real estate investment trust’s stock after acquiring an additional 986 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Crown Castle were worth $644,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CCI. Gilbert & Cook Inc. raised its position in shares of Crown Castle by 3.7% in 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 in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in shares of Crown Castle by 20.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,859 shares of the real estate investment trust’s stock worth $214,000 after acquiring an additional 319 shares in the last quarter. AGF Management Ltd. grew its stake in shares of Crown Castle by 1.0% in the 4th quarter. AGF Management Ltd. now owns 22,293 shares of the real estate investment trust’s stock valued at $2,568,000 after buying an additional 221 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Crown Castle by 6.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 426,560 shares of the real estate investment trust’s stock valued at $48,410,000 after buying an additional 25,347 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Crown Castle by 0.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 244,552 shares of the real estate investment trust’s stock valued at $28,170,000 after buying an additional 1,429 shares during the period. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

Shares of NYSE CCI opened at $120.14 on Thursday. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $120.31. The stock’s 50 day moving average price is $108.87 and its 200-day moving average price is $103.63. The company has a market capitalization of $52.20 billion, a PE ratio of 37.54 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, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The company’s revenue was down 12.9% compared to the same quarter last year. On average, equities analysts anticipate that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.21%. Crown Castle’s payout ratio is presently 195.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CCI shares. Royal Bank of Canada raised their target price on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Bank of America raised their target price on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. BMO Capital Markets raised 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. Finally, The Goldman Sachs Group started coverage on Crown Castle in a research note on Monday, July 1st. They set a “neutral” rating and a $104.00 price target for the company. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Crown Castle has an average rating of “Hold” and an average price target of $113.53.

Insider Transactions at Crown Castle

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

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.