BTR Capital Management Inc. Lowers Holdings in Crown Castle Inc. (NYSE:CCI)

BTR Capital Management Inc. decreased its holdings in Crown Castle Inc. (NYSE:CCIGet Rating) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,351 shares of the real estate investment trust’s stock after selling 1,701 shares during the quarter. Crown Castle makes up approximately 2.4% of BTR Capital Management Inc.’s holdings, making the stock its 16th largest holding. BTR Capital Management Inc.’s holdings in Crown Castle were worth $16,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Crown Castle by 15.3% during the 4th quarter. BlackRock Inc. now owns 37,010,877 shares of the real estate investment trust’s stock worth $7,725,650,000 after purchasing an additional 4,919,828 shares during the period. Norges Bank acquired a new position in Crown Castle during the 4th quarter worth approximately $815,548,000. State Street Corp lifted its position in Crown Castle by 6.4% during the 1st quarter. State Street Corp now owns 20,925,592 shares of the real estate investment trust’s stock worth $3,862,864,000 after acquiring an additional 1,261,426 shares in the last quarter. Vanguard Group Inc. lifted its position in Crown Castle by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 56,909,352 shares of the real estate investment trust’s stock worth $10,505,466,000 after acquiring an additional 1,015,352 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Crown Castle by 82.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,463,883 shares of the real estate investment trust’s stock worth $270,233,000 after acquiring an additional 662,907 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Activity

In related news, Director Kevin A. Stephens acquired 699 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was purchased at an average cost of $173.60 per share, for a total transaction of $121,346.40. Following the purchase, the director now directly owns 10,703 shares in the company, valued at $1,858,040.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

CCI has been the topic of several recent research reports. Citigroup reduced their price target on Crown Castle from $204.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, July 11th. KeyCorp reduced their price target on Crown Castle from $219.00 to $205.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price target on Crown Castle from $183.00 to $185.00 in a research report on Friday, July 22nd. StockNews.com raised Crown Castle from a “hold” rating to a “buy” rating in a research report on Friday, August 12th. Finally, The Goldman Sachs Group cut their target price on Crown Castle from $189.00 to $166.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.20.

Crown Castle Price Performance

Shares of NYSE CCI opened at $163.22 on Monday. Crown Castle Inc. has a twelve month low of $153.70 and a twelve month high of $209.87. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.70. The company has a market capitalization of $70.68 billion, a price-to-earnings ratio of 45.85 and a beta of 0.60. The business has a 50 day simple moving average of $174.61 and a 200-day simple moving average of $178.11.

Crown Castle (NYSE:CCIGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.74). Crown Castle had a net margin of 22.91% and a return on equity of 18.93%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm posted $1.71 earnings per share. Crown Castle’s revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts expect that Crown Castle Inc. will post 7.03 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.60%. Crown Castle’s dividend payout ratio (DPR) is 165.17%.

Crown Castle Profile

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

Further Reading

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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