SAM Advisors LLC Has $2.59 Million Stake in Crown Castle Inc. (NYSE:CCI)

SAM Advisors LLC decreased its position in shares of Crown Castle Inc. (NYSE:CCIGet Rating) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,248 shares of the real estate investment trust’s stock after selling 74 shares during the period. Crown Castle comprises 1.3% of SAM Advisors LLC’s portfolio, making the stock its 19th biggest position. SAM Advisors LLC’s holdings in Crown Castle were worth $2,590,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CCI. BlackRock Inc. grew its stake in shares of Crown Castle by 15.3% during the fourth quarter. BlackRock Inc. now owns 37,010,877 shares of the real estate investment trust’s stock valued at $7,725,650,000 after purchasing an additional 4,919,828 shares during the last quarter. Norges Bank bought a new position in shares of Crown Castle during the fourth quarter worth $815,548,000. State Street Corp boosted its position in shares of Crown Castle by 6.4% during the first quarter. State Street Corp now owns 20,925,592 shares of the real estate investment trust’s stock worth $3,862,864,000 after purchasing an additional 1,261,426 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Crown Castle by 1.8% during the first 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 during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Crown Castle by 82.8% during the first 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 during the period. 90.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Kevin A. Stephens acquired 699 shares of Crown Castle stock in a transaction dated Friday, July 22nd. The shares were bought at an average cost of $173.60 per share, with a total value of $121,346.40. Following the purchase, the director now owns 10,703 shares in the company, valued at approximately $1,858,040.80. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $161.50 on Monday. The firm has a 50 day moving average of $174.61 and a 200-day moving average of $178.11. The stock has a market capitalization of $69.94 billion, a PE ratio of 45.85 and a beta of 0.60. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.70. Crown Castle Inc. has a 12 month low of $153.70 and a 12 month high of $209.87.

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

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Wednesday, September 14th. Crown Castle’s payout ratio is presently 165.17%.

Analysts Set New Price Targets

CCI has been the topic of a number of research analyst reports. Credit Suisse Group dropped their price objective on shares of Crown Castle to $213.00 in a report on Friday, July 22nd. KeyCorp lowered their price target on shares of Crown Castle from $219.00 to $205.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. The Goldman Sachs Group lowered their price target on shares of Crown Castle from $189.00 to $166.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 12th. Cowen lowered their price target on shares of Crown Castle to $195.00 in a research note on Friday, July 22nd. Finally, Barclays lowered their price target on shares of Crown Castle from $214.00 to $212.00 and set an “overweight” rating on the stock in a research note on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $195.20.

Crown Castle Company Profile

(Get Rating)

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

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

Receive News & Ratings for Crown Castle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle and related companies with MarketBeat.com's FREE daily email newsletter.