APG Asset Management N.V. Increases Stock Holdings in Crown Castle Inc. (NYSE:CCI)

APG Asset Management N.V. boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 201.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,093 shares of the real estate investment trust’s stock after purchasing an additional 34,800 shares during the quarter. APG Asset Management N.V.’s holdings in Crown Castle were worth $4,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Crown Castle during the 4th quarter valued at about $25,000. EntryPoint Capital LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at $27,000. Asset Dedication LLC grew its stake in shares of Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares during the period. Richardson Financial Services Inc. acquired a new stake in shares of Crown Castle during the 4th quarter worth $30,000. Finally, Beacon Capital Management LLC increased its holdings in shares of Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 177 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of NYSE CCI opened at $116.61 on Monday. 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 Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. The business has a 50 day moving average price of $112.78 and a two-hundred day moving average price of $104.17. The firm has a market cap of $50.68 billion, a PE ratio of 36.44 and a beta of 0.85.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The business 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%. The business’s revenue was down 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. Sell-side analysts expect that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.37%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Insider Activity at Crown Castle

In other Crown Castle 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 transaction, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Raymond James restated an “outperform” rating and set a $126.00 price target (up from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Royal Bank of Canada raised their price target on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Bank of America increased their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.