Dakota Wealth Management Has $684,000 Holdings in Crown Castle Inc. (NYSE:CCI)

Dakota Wealth Management lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 11.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,996 shares of the real estate investment trust’s stock after purchasing an additional 739 shares during the period. Dakota Wealth Management’s holdings in Crown Castle were worth $684,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new position in Crown Castle during the fourth quarter worth $25,000. Rational Advisors LLC bought a new position in Crown Castle during the first quarter worth $27,000. EntryPoint Capital LLC bought a new position in Crown Castle during the first quarter worth $27,000. Gables Capital Management Inc. increased its stake in Crown Castle by 164.0% in the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 164 shares in the last quarter. Finally, Richardson Financial Services Inc. bought a new stake in Crown Castle in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of NYSE:CCI traded up $0.25 during trading on Tuesday, reaching $109.75. The company had a trading volume of 424,814 shares, compared to its average volume of 2,704,213. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $119.50. The stock has a market capitalization of $47.69 billion, a P/E ratio of 34.22 and a beta of 0.83. The company has a fifty day moving average of $103.24 and a two-hundred day moving average of $102.88. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The firm’s revenue was down 12.9% on a year-over-year basis. Equities research analysts forecast that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $1.565 per share. The ex-dividend date is Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.70%. Crown Castle’s payout ratio is currently 195.63%.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the completion of the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CCI has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Crown Castle in a research note on Monday, July 1st. They issued a “neutral” rating and a $104.00 price target for the company. TD Cowen boosted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Raymond James restated an “outperform” rating and set a $126.00 price target (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Royal Bank of Canada boosted their price target on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Finally, Barclays boosted their target price on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 23rd. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $113.53.

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.