Amalgamated Bank Reduces Stock Position in Crown Castle Inc. (NYSE:CCI)

Amalgamated Bank cut its stake in shares of Crown Castle Inc. (NYSE:CCI) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 87,763 shares of the real estate investment trust’s stock after selling 2,651 shares during the period. Amalgamated Bank’s holdings in Crown Castle were worth $8,574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Gilbert & Cook Inc. lifted its holdings in Crown Castle by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock valued at $355,000 after acquiring an additional 110 shares during the period. Level Four Advisory Services LLC lifted its stake in shares of Crown Castle by 32.3% in the 4th quarter. Level Four Advisory Services LLC now owns 3,184 shares of the real estate investment trust’s stock worth $367,000 after purchasing an additional 777 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of Crown Castle by 14.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,968 shares of the real estate investment trust’s stock worth $918,000 after buying an additional 992 shares during the last quarter. Clearbridge Investments LLC bought a new stake in Crown Castle during the fourth quarter valued at approximately $302,000. Finally, D.A. Davidson & CO. grew its position in Crown Castle by 38.0% during the fourth quarter. D.A. Davidson & CO. now owns 20,181 shares of the real estate investment trust’s stock valued at $2,325,000 after buying an additional 5,555 shares during the period. 90.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction that occurred 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 directly owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The sale was disclosed in a filing with the SEC, which is available through this link. 0.39% of the stock is owned by company insiders.

Crown Castle Trading Down 1.5 %

CCI stock opened at $117.78 on Thursday. The company has a market capitalization of $51.18 billion, a price-to-earnings ratio of 36.81 and a beta of 0.85. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $120.92. The business has a 50 day simple moving average of $111.09 and a two-hundred day simple moving average of $104.01.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The firm 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%. Crown Castle’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 earnings per share. Research analysts anticipate that Crown Castle Inc. will post 6.64 EPS for the current fiscal 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. The ex-dividend date is Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.31%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCI. Raymond James reiterated an “outperform” rating and issued a $126.00 price target (up from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Deutsche Bank Aktiengesellschaft raised their target price on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. 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 price target for the company. TD Cowen raised their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, BMO Capital Markets boosted their price objective on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $113.53.

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.