Gateway Investment Advisers LLC Takes Position in Crown Castle Inc. (NYSE:CCI)

Gateway Investment Advisers LLC acquired a new position in Crown Castle Inc. (NYSE:CCI) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,739 shares of the real estate investment trust’s stock, valued at approximately $206,000.

Other institutional investors have also recently bought and sold shares of the company. Pinnacle Wealth Management Group Inc. lifted its position in Crown Castle by 9.5% in the 3rd quarter. Pinnacle Wealth Management Group Inc. now owns 3,880 shares of the real estate investment trust’s stock worth $460,000 after buying an additional 337 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Crown Castle by 23.2% during the third quarter. Valeo Financial Advisors LLC now owns 6,050 shares of the real estate investment trust’s stock worth $717,000 after acquiring an additional 1,138 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Crown Castle by 362.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,679 shares of the real estate investment trust’s stock valued at $318,000 after purchasing an additional 2,100 shares during the last quarter. Sarasin & Partners LLP grew its stake in Crown Castle by 13.2% in the third quarter. Sarasin & Partners LLP now owns 69,139 shares of the real estate investment trust’s stock valued at $8,202,000 after purchasing an additional 8,083 shares in the last quarter. Finally, San Luis Wealth Advisors LLC grew its stake in Crown Castle by 109.4% in the third quarter. San Luis Wealth Advisors LLC now owns 6,114 shares of the real estate investment trust’s stock valued at $725,000 after purchasing an additional 3,194 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction on 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 sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CCI shares. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Barclays lifted their target price 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, October 10th. The Goldman Sachs Group increased 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada raised their target price on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Eleven equities research 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, Crown Castle currently has a consensus rating of “Hold” and a consensus price target of $115.67.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $112.11 on Tuesday. The firm has a fifty day moving average price of $113.86 and a two-hundred day moving average price of $104.86. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. 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 company has a market cap of $48.72 billion, a PE ratio of 41.07 and a beta of 0.85.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period last year, the business earned $2.05 earnings per share. Analysts expect that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.58%. Crown Castle’s dividend payout ratio (DPR) is currently 229.30%.

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.