American Investment Services Inc. Has $377,000 Holdings in Crown Castle Inc. (NYSE:CCI)

American Investment Services Inc. trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 21.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,859 shares of the real estate investment trust’s stock after selling 1,075 shares during the period. American Investment Services Inc.’s holdings in Crown Castle were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Bank of Montreal Can lifted its position in Crown Castle by 191.7% during the second 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 period. Evergreen Capital Management LLC lifted its holdings in shares of Crown Castle by 23.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,376 shares of the real estate investment trust’s stock worth $623,000 after acquiring an additional 1,220 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Crown Castle by 17.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 60,432 shares of the real estate investment trust’s stock worth $5,904,000 after acquiring an additional 9,047 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Crown Castle by 31.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,251 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 301 shares during the last quarter. Finally, Gabelli Funds LLC raised its position in Crown Castle by 1.1% during the second quarter. Gabelli Funds LLC now owns 46,805 shares of the real estate investment trust’s stock valued at $4,573,000 after purchasing an additional 500 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CCI has been the topic of a number of research analyst reports. Royal Bank of Canada raised 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. TD Cowen lifted their target price on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Bank of America increased their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Raymond James reaffirmed an “outperform” rating and set a $126.00 price target (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Finally, BMO Capital Markets increased their price objective on shares of 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and an average target price of $113.53.

Crown Castle Stock Performance

NYSE CCI opened at $115.33 on Monday. The company has a market capitalization of $50.11 billion, a price-to-earnings ratio of 36.04 and a beta of 0.85. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $120.92. The stock has a fifty day simple moving average of $111.58 and a 200 day simple moving average of $104.00. 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 results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.04. The company 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Sell-side analysts expect that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $1.565 dividend. The ex-dividend date is Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.43%. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

Insider Activity

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction on Tuesday, July 23rd. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.39% of the company’s stock.

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.