Crown Castle Inc. (NYSE:CCI) Shares Purchased by New Century Financial Group LLC

New Century Financial Group LLC increased its position in shares of Crown Castle Inc. (NYSE:CCI) by 4.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,645 shares of the real estate investment trust’s stock after purchasing an additional 122 shares during the period. New Century Financial Group LLC’s holdings in Crown Castle were worth $314,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its holdings in Crown Castle by 594.6% in the first quarter. Los Angeles Capital Management LLC now owns 15,699 shares of the real estate investment trust’s stock valued at $1,661,000 after acquiring an additional 13,439 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Crown Castle by 13.4% in the 1st quarter. International Assets Investment Management LLC now owns 6,926 shares of the real estate investment trust’s stock valued at $722,000 after purchasing an additional 821 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Crown Castle by 9.6% during the 1st quarter. AdvisorNet Financial Inc now owns 2,788 shares of the real estate investment trust’s stock worth $295,000 after purchasing an additional 244 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Crown Castle during the 1st quarter worth about $4,425,000. Finally, Gilman Hill Asset Management LLC raised its holdings in Crown Castle by 10.8% in the 1st quarter. Gilman Hill Asset Management LLC now owns 34,083 shares of the real estate investment trust’s stock valued at $3,607,000 after buying an additional 3,335 shares during the period. 90.77% of the stock is 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 completion of the sale, the chief operating officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CCI shares. Jefferies Financial Group increased their target price on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets increased their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Royal Bank of Canada boosted their target price on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. TD Cowen lowered their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Barclays lifted their price objective on Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and a consensus price target of $116.47.

Crown Castle Stock Up 0.6 %

Shares of NYSE:CCI opened at $112.38 on Monday. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. The firm’s 50 day moving average price is $114.03 and its 200 day moving average price is $105.14. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market cap of $48.84 billion, a price-to-earnings ratio of 39.85 and a beta of 0.85.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 earnings per share. As a group, equities research analysts predict that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given 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 dividend yield of 5.57%. Crown Castle’s dividend payout ratio is currently 221.99%.

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.