Prosperity Consulting Group LLC Grows Position in Crown Castle Inc. (NYSE:CCI)

Prosperity Consulting Group LLC raised its position in Crown Castle Inc. (NYSE:CCI) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,262 shares of the real estate investment trust’s stock after acquiring an additional 95 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Crown Castle were worth $221,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Crown Castle by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock worth $5,990,991,000 after purchasing an additional 673,243 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in Crown Castle by 7.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock worth $1,310,559,000 after buying an additional 834,198 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Crown Castle by 11.1% during the 4th quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock worth $1,297,147,000 after acquiring an additional 1,126,394 shares in the last quarter. Norges Bank purchased a new position in shares of Crown Castle in the 4th quarter valued at about $581,503,000. Finally, Fisher Asset Management LLC raised its position in shares of Crown Castle by 16.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock worth $523,773,000 after acquiring an additional 632,398 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the transaction, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. 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 corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CCI. Raymond James reaffirmed an “outperform” rating and issued a $126.00 price target (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. TD Cowen upped their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. BMO Capital Markets lifted their price target on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada lifted their target price on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.53.

Crown Castle Trading Down 0.2 %

Shares of CCI stock opened at $118.85 on Monday. The business’s 50 day moving average is $109.77 and its two-hundred day moving average is $103.78. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $120.31. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. The company has a market capitalization of $51.65 billion, a P/E ratio of 37.14 and a beta of 0.85.

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 for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the company earned $2.05 EPS. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. Equities analysts forecast that Crown Castle Inc. will post 6.64 EPS 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 issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend is Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) 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.