Crown Castle Inc. (NYSE:CCI) Shares Purchased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 23.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,050 shares of the real estate investment trust’s stock after buying an additional 1,138 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Crown Castle were worth $717,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in Crown Castle during the fourth quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle during the first quarter worth $27,000. Asset Dedication LLC grew its position in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares during the period. Richardson Financial Services Inc. acquired a new position in Crown Castle in the fourth quarter valued at $30,000. Finally, Beacon Capital Management LLC lifted its position in Crown Castle by 163.9% during the first 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 period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Crown Castle stock opened at $110.81 on Monday. 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 firm’s fifty day moving average price is $113.84 and its 200 day moving average price is $104.82. The company has a market capitalization of $48.15 billion, a price-to-earnings ratio of 40.59 and a beta of 0.85. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month 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. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. The company’s revenue was down 12.9% compared to the same quarter last year. On average, research analysts forecast that Crown Castle Inc. will post 6.64 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.65%. Crown Castle’s dividend payout ratio (DPR) is presently 229.30%.

Analyst Ratings Changes

A number of research analysts have recently commented on CCI shares. Barclays upped their price objective on shares of Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday. Bank of America increased 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. BMO Capital Markets boosted their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. The Goldman Sachs Group increased their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $115.67.

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the transaction, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at $7,792,172.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by corporate insiders.

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.