Crown Castle Inc. (NYSE:CCI) Stock Position Lifted by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC boosted its stake in Crown Castle Inc. (NYSE:CCI) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,598 shares of the real estate investment trust’s stock after buying an additional 510 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Crown Castle were worth $1,969,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CCI. Pinnacle Bancorp Inc. grew its holdings in Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 90 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Crown Castle by 2.4% during the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 91 shares in the last quarter. Prosperity Consulting Group LLC lifted its position in shares of Crown Castle by 4.4% during the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 95 shares in the last quarter. True North Advisors LLC grew its stake in shares of Crown Castle by 4.2% during the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC increased its holdings in shares of Crown Castle by 0.5% in the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Bank of America increased their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Wells Fargo & Company raised their price target on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday. Barclays raised their target price on shares of Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and an average price target of $116.47.

Crown Castle Stock Performance

CCI stock opened at $112.38 on Friday. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $120.92. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. The firm has a market cap of $48.83 billion, a PE ratio of 35.12 and a beta of 0.85. The business’s 50-day moving average price is $114.03 and its two-hundred day moving average price is $105.12.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.77 EPS. As a group, research analysts forecast that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.57%. Crown Castle’s dividend payout ratio is currently 195.63%.

Insider Buying and Selling

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value of $1,128,784.76. Following the sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.39% of the company’s stock.

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.