San Luis Wealth Advisors LLC Boosts Position in Crown Castle Inc. (NYSE:CCI)

San Luis Wealth Advisors LLC lifted its position in Crown Castle Inc. (NYSE:CCI) by 109.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,114 shares of the real estate investment trust’s stock after purchasing an additional 3,194 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in Crown Castle were worth $725,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. lifted its holdings in Crown Castle by 4,097.8% in the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock valued at $246,617,000 after acquiring an additional 2,464,094 shares during the last quarter. M&G Plc purchased a new position in shares of Crown Castle during the 1st quarter worth $221,573,000. Bank of Montreal Can increased its position in shares of Crown Castle by 191.7% during the 2nd quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock worth $195,183,000 after purchasing an additional 1,335,644 shares during the last quarter. Cooke & Bieler LP raised its holdings in Crown Castle by 95.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after buying an additional 1,261,536 shares during the period. Finally, Capital International Investors lifted its position in Crown Castle by 68,262.1% in the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock valued at $131,239,000 after buying an additional 1,238,274 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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 completion of the sale, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on CCI shares. Raymond James restated an “outperform” rating and issued a $126.00 price objective (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. TD Cowen upped their price target on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Royal Bank of Canada lifted their price objective on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. The Goldman Sachs Group increased their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. lifted their target price on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $115.67.

Crown Castle Stock Performance

Shares of CCI stock opened at $109.94 on Friday. The company has a market cap of $47.78 billion, a P/E ratio of 40.27 and a beta of 0.85. The firm has a fifty day moving average price of $113.92 and a 200 day moving average price of $104.75. 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 Inc. has a 12 month low of $84.72 and a 12 month high of $120.92.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The business’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 EPS. Sell-side analysts predict that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is 229.30%.

Crown Castle Company 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.