UMB Bank n.a. Sells 1,561 Shares of Crown Castle Inc. (NYSE:CCI)

UMB Bank n.a. trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 14.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,071 shares of the real estate investment trust’s stock after selling 1,561 shares during the quarter. UMB Bank n.a.’s holdings in Crown Castle were worth $886,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CCI. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Crown Castle during the 4th quarter worth $25,000. Rational Advisors LLC bought a new position in shares of Crown Castle during the 1st quarter worth $27,000. EntryPoint Capital LLC bought a new position in shares of Crown Castle during the 1st quarter worth $27,000. Gables Capital Management Inc. increased its holdings in Crown Castle by 164.0% in the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 164 shares during the last quarter. Finally, Richardson Financial Services Inc. bought a new stake in Crown Castle in the 4th quarter valued at about $30,000. 90.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s 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 completion of the transaction, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. The transaction 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.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of research reports. TD Cowen increased their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Royal Bank of Canada raised their price objective 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. BMO Capital Markets boosted their target price on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. The Goldman Sachs Group started coverage on Crown Castle in a report on Monday, July 1st. They issued a “neutral” rating and a $104.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.53.

Crown Castle Stock Performance

Shares of CCI stock opened at $112.01 on Friday. The firm has a market capitalization of $48.68 billion, a price-to-earnings ratio of 35.00 and a beta of 0.83. The stock has a fifty day moving average of $105.46 and a 200 day moving average of $103.18. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $119.50. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 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 analyst estimates of $1.62 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 12.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.05 EPS. As a group, 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 disclosed 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 5.59%. Crown Castle’s payout ratio is 195.63%.

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.