Cetera Investment Advisers Buys 71,672 Shares of Crown Castle Inc. (NYSE:CCI)

Cetera Investment Advisers raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 143.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 121,654 shares of the real estate investment trust’s stock after purchasing an additional 71,672 shares during the period. Cetera Investment Advisers’ holdings in Crown Castle were worth $12,875,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Trust Point Inc. bought a new position in shares of Crown Castle in the fourth quarter worth about $264,000. SteelPeak Wealth LLC boosted its stake in shares of Crown Castle by 10.2% in the fourth quarter. SteelPeak Wealth LLC now owns 2,779 shares of the real estate investment trust’s stock worth $320,000 after acquiring an additional 257 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Crown Castle by 8,611.0% in the fourth quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock worth $81,006,000 after acquiring an additional 695,163 shares during the period. Arkadios Wealth Advisors boosted its stake in shares of Crown Castle by 10.5% in the fourth quarter. Arkadios Wealth Advisors now owns 9,446 shares of the real estate investment trust’s stock worth $1,088,000 after acquiring an additional 900 shares during the period. Finally, Prime Capital Investment Advisors LLC boosted its stake in shares of Crown Castle by 69.9% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 11,737 shares of the real estate investment trust’s stock worth $1,352,000 after acquiring an additional 4,829 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insider Transactions at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction that occurred on 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 sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BMO Capital Markets upped their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Raymond James reissued an “outperform” rating and set a $126.00 price target (up from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Scotiabank dropped their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. TD Cowen increased their price target on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group dropped their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $113.20.

Crown Castle Trading Up 2.6 %

Shares of CCI stock opened at $115.21 on Friday. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.42. The stock’s 50 day simple moving average is $101.05 and its two-hundred day simple moving average is $102.76. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $119.50. The company has a market cap of $50.07 billion, a PE ratio of 36.00 and a beta of 0.83.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. Research analysts predict that Crown Castle Inc. will post 6.63 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.26 annualized dividend and a dividend yield of 5.43%. Crown Castle’s payout ratio is 195.63%.

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.