Crown Castle Inc. (NYSE:CCI) Director Purchases $10,822.68 in Stock

Crown Castle Inc. (NYSE:CCI) Director Jason Genrich purchased 99 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were purchased at an average price of $109.32 per share, with a total value of $10,822.68. Following the acquisition, the director now directly owns 3,023 shares in the company, valued at $330,474.36. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Jason Genrich also recently made the following trade(s):

• On Tuesday, April 2nd, Jason Genrich bought 18 shares of Crown Castle stock. The shares were purchased at an average price of $103.17 per share, with a total value of $1,857.06.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $96.14 on Wednesday. The firm has a 50 day moving average of $101.99 and a 200 day moving average of $105.63. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The company has a market capitalization of $41.77 billion, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 2.59 and a beta of 0.76. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $119.60.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the company earned $1.91 earnings per share. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, sell-side analysts predict that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.51%. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Institutional Investors Weigh In On Crown Castle

Several institutional investors have recently bought and sold shares of CCI. Morgan Stanley lifted its holdings in shares of Crown Castle by 8.9% during the 3rd quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after purchasing an additional 1,064,382 shares during the last quarter. FMR LLC increased its position in Crown Castle by 14.3% during the 3rd quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock valued at $1,098,526,000 after buying an additional 1,496,330 shares in the last quarter. Cohen & Steers Inc. raised its stake in Crown Castle by 7.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after buying an additional 834,198 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Crown Castle by 11.1% in the fourth quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock worth $1,297,147,000 after acquiring an additional 1,126,394 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Crown Castle by 42.8% during the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock worth $651,910,000 after acquiring an additional 2,121,603 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCI has been the subject of several research reports. Royal Bank of Canada lowered their price objective on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a research report on Tuesday. Bank of America lowered their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Argus downgraded Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, BMO Capital Markets lowered their price objective on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $112.64.

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.