Anderson Hoagland & Co. Sells 104 Shares of Crown Castle Inc. (NYSE:CCI)

Anderson Hoagland & Co. reduced its position in Crown Castle Inc. (NYSE:CCI) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,296 shares of the real estate investment trust’s stock after selling 104 shares during the quarter. Anderson Hoagland & Co.’s holdings in Crown Castle were worth $3,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Ignite Planners LLC raised its position in shares of Crown Castle by 3.2% in the third quarter. Ignite Planners LLC now owns 7,250 shares of the real estate investment trust’s stock valued at $860,000 after purchasing an additional 225 shares during the period. Diversified Trust Co bought a new stake in Crown Castle during the 3rd quarter valued at $260,000. GAMMA Investing LLC raised its holdings in Crown Castle by 48.5% during the 3rd quarter. GAMMA Investing LLC now owns 5,224 shares of the real estate investment trust’s stock valued at $620,000 after acquiring an additional 1,705 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Crown Castle by 1.4% during the third quarter. Handelsbanken Fonder AB now owns 218,873 shares of the real estate investment trust’s stock worth $25,965,000 after acquiring an additional 3,028 shares in the last quarter. Finally, Mirador Capital Partners LP boosted its holdings in shares of Crown Castle by 5.2% in the third quarter. Mirador Capital Partners LP now owns 2,760 shares of the real estate investment trust’s stock worth $327,000 after acquiring an additional 137 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CCI shares. Royal Bank of Canada boosted their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Raymond James reissued an “outperform” rating and set a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. BMO Capital Markets raised their target price on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. The Goldman Sachs Group raised their price target on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.40.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $111.24 on Tuesday. The business has a fifty day moving average price of $113.83 and a 200-day moving average price of $104.55. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $48.34 billion, a PE ratio of 34.76 and a beta of 0.85. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $120.92.

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

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.63%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 195.63%.

Insider Activity

In other 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 completion of the sale, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.39% of the company’s stock.

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.