Sanctuary Advisors LLC Invests $11.23 Million in Crown Castle Inc. (NYSE:CCI)

Sanctuary Advisors LLC purchased a new stake in Crown Castle Inc. (NYSE:CCI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 119,993 shares of the real estate investment trust’s stock, valued at approximately $11,229,000.

Other hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC lifted its holdings in shares of Crown Castle by 16.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock valued at $523,773,000 after purchasing an additional 632,398 shares in the last quarter. BOKF NA boosted its position 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 acquiring an additional 815 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Crown Castle by 0.9% during the 1st 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 in the last quarter. Global Assets Advisory LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at about $4,425,000. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Crown Castle by 30.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after purchasing an additional 8,346 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CCI. The Goldman Sachs Group boosted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. TD Cowen boosted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Royal Bank of Canada upped their target price 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, Raymond James reiterated an “outperform” rating and set a $126.00 price target (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Crown Castle has an average rating of “Hold” and a consensus price target of $115.40.

Crown Castle Trading Down 1.3 %

NYSE:CCI opened at $114.29 on Friday. The company’s 50 day moving average is $113.75 and its 200-day moving average is $104.50. 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 Inc. has a 12 month low of $84.72 and a 12 month high of $120.92. The firm has a market cap of $49.67 billion, a price-to-earnings ratio of 35.72 and a beta of 0.85.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the firm posted $2.05 EPS. The business’s quarterly revenue was down 12.9% on a year-over-year basis. Equities analysts anticipate that Crown Castle Inc. will post 6.64 EPS for the current 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 5.48%. Crown Castle’s payout ratio is 195.63%.

Insider Buying and Selling at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s 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 completion of the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.