Crown Castle Inc. (NYSE:CCI) Shares Sold by Cyrus J. Lawrence LLC

Cyrus J. Lawrence LLC lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 39.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 970 shares of the real estate investment trust’s stock after selling 622 shares during the period. Cyrus J. Lawrence LLC’s holdings in Crown Castle were worth $94,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Crown Castle by 1.2% in the first quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock valued at $5,990,991,000 after purchasing an additional 673,243 shares during the last quarter. Cohen & Steers Inc. grew its position in shares of Crown Castle by 7.9% in the 4th quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after buying an additional 834,198 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Crown Castle by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock valued at $1,297,147,000 after buying an additional 1,126,394 shares during the last quarter. Fisher Asset Management LLC raised its stake in 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. Finally, National Bank of Canada FI lifted its position in Crown Castle by 10.7% in the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after acquiring an additional 391,127 shares during the last quarter. Hedge funds and other institutional investors 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 company’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CCI. Deutsche Bank Aktiengesellschaft lifted their target price on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. 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. Raymond James restated an “outperform” rating and set a $126.00 target price (up from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Bank of America upped their price target on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group initiated coverage on shares of Crown Castle in a research report on Monday, July 1st. They set a “neutral” rating and a $104.00 price objective on the stock. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $113.53.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $115.33 on Monday. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $120.92. The company has a 50-day moving average price of $111.58 and a 200 day moving average price of $104.00. The company has a market cap of $50.11 billion, a P/E ratio of 36.04 and a beta of 0.85. 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 posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the firm earned $2.05 EPS. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. Research analysts predict that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 5.43%. Crown Castle’s dividend payout ratio is presently 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.