Canada Pension Plan Investment Board Has $98.32 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Canada Pension Plan Investment Board trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 14.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,006,306 shares of the real estate investment trust’s stock after selling 164,923 shares during the period. Canada Pension Plan Investment Board’s holdings in Crown Castle were worth $98,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Crown Castle in the 4th quarter valued at about $25,000. EntryPoint Capital LLC purchased a new stake in Crown Castle in the 1st quarter worth approximately $27,000. Asset Dedication LLC boosted its stake in shares of Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares during the period. Richardson Financial Services Inc. purchased a new position in shares of Crown Castle during the 4th quarter valued at $30,000. Finally, Beacon Capital Management LLC increased its stake in shares of Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 177 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The sale 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 Trading Up 0.1 %

Shares of Crown Castle stock opened at $115.30 on Friday. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $120.92. The company’s fifty day simple moving average is $111.58 and its 200-day simple moving average is $104.11. The company has a market cap of $50.11 billion, a price-to-earnings ratio of 36.03 and a beta of 0.85. 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 (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. The company had revenue of $1.63 billion for 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 business’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period last year, the business posted $2.05 EPS. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.43%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Raymond James restated an “outperform” rating and issued a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. The Goldman Sachs Group began coverage on Crown Castle in a research note on Monday, July 1st. They issued a “neutral” rating and a $104.00 price target for the company. Royal Bank of Canada lifted their target price on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. BMO Capital Markets increased 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. Finally, TD Cowen lifted their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $113.53.

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.