Crown Castle Inc. (NYSE:CCI) Shares Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 11.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,922 shares of the real estate investment trust’s stock after purchasing an additional 17,524 shares during the quarter. AMF Tjanstepension AB’s holdings in Crown Castle were worth $19,835,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC lifted its stake in shares of Crown Castle by 2.4% in the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 91 shares in the last quarter. Prosperity Consulting Group LLC lifted its stake in shares of Crown Castle by 4.4% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 95 shares in the last quarter. Granite Investment Partners LLC lifted its stake in shares of Crown Castle by 0.5% in the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after purchasing an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Crown Castle by 12.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 108 shares in the last quarter. Finally, HM Payson & Co. raised its holdings in shares of Crown Castle by 5.3% during the 1st quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 114 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CCI shares. Raymond James reiterated an “outperform” rating and set a $126.00 target price (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. BMO Capital Markets raised their target price on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. Bank of America raised their target price on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. The Goldman Sachs Group raised their target price on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Crown Castle from $103.00 to $105.00 and gave the stock 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. According to data from MarketBeat, Crown Castle has a consensus rating of “Hold” and a consensus price target of $115.40.

Crown Castle Trading Down 2.8 %

NYSE:CCI opened at $115.78 on Thursday. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $120.92. The firm has a market capitalization of $50.31 billion, a P/E ratio of 36.18 and a beta of 0.85. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50 day simple moving average of $113.57 and a 200 day simple moving average of $104.43.

Crown Castle (NYSE:CCI) last announced 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. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The firm’s quarterly revenue was down 12.9% on a year-over-year basis. Equities research analysts predict that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.41%. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Insiders Place Their Bets

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction on 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 sale, the chief operating officer now owns 75,127 shares in the company, valued at $7,792,172.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.39% of the stock is currently owned by insiders.

About Crown Castle

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.