Crown Castle Inc. (NYSE:CCI) Shares Purchased by PFG Advisors

PFG Advisors lifted its stake in Crown Castle Inc. (NYSE:CCIGet Rating) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,106 shares of the real estate investment trust’s stock after purchasing an additional 77 shares during the period. PFG Advisors’ holdings in Crown Castle were worth $523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. North Star Investment Management Corp. acquired a new position in Crown Castle during the first quarter worth about $25,000. IAG Wealth Partners LLC raised its position in Crown Castle by 277.8% during the fourth quarter. IAG Wealth Partners LLC now owns 136 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in Crown Castle during the first quarter worth about $28,000. Blume Capital Management Inc. acquired a new position in Crown Castle during the first quarter worth about $29,000. Finally, HWG Holdings LP acquired a new position in Crown Castle during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In other Crown Castle news, Director Kevin A. Stephens acquired 699 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was bought at an average cost of $173.60 per share, for a total transaction of $121,346.40. Following the completion of the purchase, the director now directly owns 10,703 shares in the company, valued at $1,858,040.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by insiders.

Crown Castle Price Performance

Crown Castle stock opened at $157.09 on Friday. Crown Castle Inc. has a 1 year low of $153.70 and a 1 year high of $209.87. The firm has a 50 day moving average price of $173.71 and a 200 day moving average price of $177.62. The company has a market cap of $68.03 billion, a price-to-earnings ratio of 44.13 and a beta of 0.60. The company has a debt-to-equity ratio of 2.70, a quick ratio of 0.69 and a current ratio of 0.69.

Crown Castle (NYSE:CCIGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.74). Crown Castle had a return on equity of 18.93% and a net margin of 22.91%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the firm earned $1.71 earnings per share. Crown Castle’s quarterly revenue was up 9.5% compared to the same quarter last year. Sell-side analysts predict that Crown Castle Inc. will post 7.04 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $1.47 per share. The ex-dividend date is Wednesday, September 14th. This represents a $5.88 annualized dividend and a yield of 3.74%. Crown Castle’s dividend payout ratio is currently 165.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crown Castle from $183.00 to $185.00 in a research report on Friday, July 22nd. The Goldman Sachs Group cut their price objective on shares of Crown Castle from $189.00 to $166.00 and set a “neutral” rating for the company in a research report on Tuesday, July 12th. Cowen cut their price objective on shares of Crown Castle to $195.00 in a research report on Friday, July 22nd. Credit Suisse Group cut their price objective on shares of Crown Castle to $213.00 in a research report on Friday, July 22nd. Finally, Jefferies Financial Group raised shares of Crown Castle from a “hold” rating to a “buy” rating and boosted their price objective for the company from $191.00 to $200.00 in a research report on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $195.20.

Crown Castle Company 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.

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

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