First County Bank CT Has $489,000 Stock Holdings in Crown Castle Inc. (NYSE:CCI)

First County Bank CT reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 52.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,009 shares of the real estate investment trust’s stock after selling 5,495 shares during the quarter. First County Bank CT’s holdings in Crown Castle were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Fisher Asset Management LLC grew its holdings 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 during the period. BOKF NA increased its stake in shares of Crown Castle by 25.6% in the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after acquiring an additional 815 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Crown Castle by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock valued at $98,570,000 after acquiring an additional 8,136 shares during the period. Global Assets Advisory LLC bought a new position in Crown Castle during the 1st quarter worth approximately $4,425,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in Crown Castle by 30.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock valued at $3,789,000 after purchasing an additional 8,346 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $114.78 on Friday. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $120.92. The stock has a 50 day moving average of $112.54 and a 200-day moving average of $104.23. 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 $49.88 billion, a P/E ratio of 35.87 and a beta of 0.85.

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, beating the consensus estimate of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. The company’s revenue was down 12.9% on a year-over-year basis. As a group, equities research analysts predict that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $1.565 per share. The ex-dividend date is Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.45%. Crown Castle’s payout ratio is 195.63%.

Insider Transactions at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s 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 owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of recent analyst reports. TD Cowen lifted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Bank of America increased their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price objective on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday. 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 report on Thursday, July 18th. Finally, The Goldman Sachs Group raised their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $115.40.

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.