Future Financial Wealth Managment LLC Invests $119,000 in Crown Castle Inc. (NYSE:CCI)

Future Financial Wealth Managment LLC bought a new position in Crown Castle Inc. (NYSE:CCI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,000 shares of the real estate investment trust’s stock, valued at approximately $119,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Connectus Wealth LLC boosted its holdings in shares of Crown Castle by 12.7% during the 4th quarter. Connectus Wealth LLC now owns 2,670 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 300 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of Crown Castle by 34.3% during the fourth quarter. State of Tennessee Treasury Department now owns 194,091 shares of the real estate investment trust’s stock valued at $22,357,000 after buying an additional 49,564 shares during the last quarter. Ethic Inc. increased its position in Crown Castle by 12.5% in the fourth quarter. Ethic Inc. now owns 59,223 shares of the real estate investment trust’s stock worth $6,822,000 after purchasing an additional 6,595 shares during the last quarter. Nebula Research & Development LLC bought a new stake in Crown Castle in the fourth quarter worth $686,000. Finally, LM Advisors LLC bought a new stake in Crown Castle in the fourth quarter worth $219,000. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CCI has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price objective 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. Bank of America boosted their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. The Goldman Sachs Group upped their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Raymond James restated an “outperform” rating and set a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. upped their target price on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $115.40.

Crown Castle Price Performance

Shares of CCI opened at $112.10 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $120.92. The stock has a 50 day moving average of $113.94 and a 200-day moving average of $104.67. The firm has a market cap of $48.72 billion, a price-to-earnings ratio of 35.03 and a beta of 0.85.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. As a group, analysts forecast that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors 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 annualized dividend and a dividend yield of 5.58%. Crown Castle’s dividend payout ratio is presently 195.63%.

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.