Crown Castle Inc. (NYSE:CCI) Shares Sold by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 12.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,301 shares of the real estate investment trust’s stock after selling 13,304 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Crown Castle were worth $9,506,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Crown Castle by 1.2% in the first quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock valued at $5,990,991,000 after buying an additional 673,243 shares in the last quarter. Cohen & Steers Inc. grew its stake in shares of Crown Castle by 7.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after buying an additional 834,198 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Crown Castle by 11.1% in the fourth quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock valued at $1,297,147,000 after buying an additional 1,126,394 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Crown Castle by 16.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock valued at $523,773,000 after buying an additional 632,398 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Crown Castle by 10.7% in the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after buying an additional 391,127 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of recent research reports. TD Cowen lifted their target price on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Bank of America lifted their target price on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Raymond James reiterated an “outperform” rating and issued a $126.00 target price (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Finally, The Goldman Sachs Group initiated coverage on Crown Castle in a report on Monday, July 1st. They issued a “neutral” rating and a $104.00 target price for the company. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Crown Castle presently has an average rating of “Hold” and an average target price of $113.53.

Insider Activity

In related 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 transaction, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.

Crown Castle Stock Down 0.5 %

Crown Castle stock opened at $119.62 on Wednesday. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $51.98 billion, a P/E ratio of 37.38 and a beta of 0.85. The stock has a 50-day simple moving average of $110.69 and a 200-day simple moving average of $103.92.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating 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 business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the business earned $2.05 EPS. The business’s quarterly revenue was down 12.9% on a year-over-year basis. Equities research analysts expect that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.23%. The ex-dividend date is Friday, September 13th. Crown Castle’s payout ratio is currently 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.