DekaBank Deutsche Girozentrale Lowers Holdings in Crown Castle Inc. (NYSE:CCI)

DekaBank Deutsche Girozentrale lowered its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 23.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,132 shares of the real estate investment trust’s stock after selling 62,994 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Crown Castle were worth $20,147,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Private Wealth Partners LLC boosted its position in Crown Castle by 90.4% during the second quarter. Private Wealth Partners LLC now owns 5,201 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 2,470 shares in the last quarter. Forsta AP Fonden boosted its position in Crown Castle by 4.8% during the second quarter. Forsta AP Fonden now owns 151,500 shares of the real estate investment trust’s stock worth $14,802,000 after purchasing an additional 7,000 shares in the last quarter. Y.D. More Investments Ltd acquired a new position in shares of Crown Castle during the second quarter valued at approximately $114,000. Linscomb Wealth Inc. raised its holdings in shares of Crown Castle by 1.1% during the second quarter. Linscomb Wealth Inc. now owns 54,267 shares of the real estate investment trust’s stock valued at $5,302,000 after acquiring an additional 566 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Crown Castle by 4,097.8% during 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. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the subject of a number of research analyst reports. Raymond James reissued an “outperform” rating and set a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Bank of America increased 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. The Goldman Sachs Group initiated coverage on Crown Castle in a report on Monday, July 1st. They set a “neutral” rating and a $104.00 target price for the company. Royal Bank of Canada increased their target price on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, TD Cowen increased their price target on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $113.53.

Crown Castle Trading Down 0.2 %

Shares of Crown Castle stock opened at $118.85 on Monday. The firm has a market capitalization of $51.65 billion, a price-to-earnings ratio of 37.14 and a beta of 0.85. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.31. 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 stock has a 50 day moving average of $109.77 and a 200 day moving average of $103.78.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data 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. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 earnings per share. As a group, research analysts predict 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. Shareholders of record on Friday, September 13th will be given a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.27%. The ex-dividend date is Friday, September 13th. Crown Castle’s dividend 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 Crown Castle 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 transaction, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

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.