Crown Castle Inc. (NYSE:CCI) Shares Acquired by Swedbank AB

Swedbank AB raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 248,150 shares of the real estate investment trust’s stock after purchasing an additional 898 shares during the quarter. Swedbank AB owned 0.06% of Crown Castle worth $29,438,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pinnacle Bancorp Inc. grew its position in shares of Crown Castle by 13.0% during the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 90 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Crown Castle by 2.4% in the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 91 shares in the last quarter. Prosperity Consulting Group LLC raised its stake in shares of Crown Castle by 4.4% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 95 shares in the last quarter. True North Advisors LLC raised its stake in shares of Crown Castle by 4.2% in the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 95 shares in the last quarter. Finally, Granite Investment Partners LLC lifted its position in shares of Crown Castle by 0.5% during the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock worth $1,899,000 after purchasing an additional 100 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’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 sale, the chief operating officer now owns 75,127 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.39% of the company’s stock.

Crown Castle Stock Up 1.3 %

Shares of Crown Castle stock opened at $115.78 on Thursday. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $120.92. The business’s fifty day moving average price is $113.98 and its two-hundred day moving average price is $105.00. The company has a market capitalization of $50.31 billion, a P/E ratio of 42.41 and a beta of 0.85.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $1.63 billion for 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 company’s revenue was down 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 earnings per share. As a group, research analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 229.30%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. BMO Capital Markets boosted their price objective on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. Barclays raised their price objective on Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. The Goldman Sachs Group raised their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus target price of $115.86.

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.