Magnolia Capital Advisors LLC Purchases Shares of 3,859 Crown Castle Inc. (NYSE:CCI)

Magnolia Capital Advisors LLC bought a new position in shares of Crown Castle Inc. (NYSE:CCI) during the second quarter, HoldingsChannel reports. The institutional investor bought 3,859 shares of the real estate investment trust’s stock, valued at approximately $377,000.

A number of other institutional investors have also made changes to their positions in CCI. Gilbert & Cook Inc. lifted its position in shares of Crown Castle by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock worth $355,000 after purchasing an additional 110 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Crown Castle by 2.5% during the fourth quarter. TD Asset Management Inc now owns 166,625 shares of the real estate investment trust’s stock worth $19,194,000 after purchasing an additional 4,085 shares in the last quarter. J. W. Coons Advisors LLC acquired a new position in shares of Crown Castle during the fourth quarter worth $208,000. California State Teachers Retirement System lifted its position in shares of Crown Castle by 1.6% during the fourth quarter. California State Teachers Retirement System now owns 706,803 shares of the real estate investment trust’s stock worth $81,417,000 after purchasing an additional 11,414 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Crown Castle by 59.9% during the fourth quarter. KBC Group NV now owns 115,761 shares of the real estate investment trust’s stock worth $13,335,000 after purchasing an additional 43,385 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 value of $1,128,784.76. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Crown Castle Stock Up 1.7 %

Crown Castle stock opened at $118.63 on Tuesday. The company has a 50-day simple moving average of $113.07 and a 200-day simple moving average of $104.26. The firm has a market capitalization of $51.55 billion, a P/E ratio of 37.07 and a beta of 0.85. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. Crown Castle Inc. has a one year low of $84.72 and a one year high of $120.92.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate 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 company’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, equities analysts expect that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.28%. The ex-dividend date was Friday, September 13th. Crown Castle’s payout ratio is currently 195.63%.

Analyst Ratings Changes

CCI has been the subject of a number of research analyst reports. BMO Capital Markets lifted their price target on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Royal Bank of Canada lifted their price target on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. The Goldman Sachs Group lifted their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Bank of America lifted their price target on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Raymond James restated an “outperform” rating and issued a $126.00 price target (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Twelve 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.com, the company has a consensus rating of “Hold” and a consensus target price of $115.40.

Crown Castle 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.