Crown Castle Inc. (NYSE:CCI) Shares Bought by Bank of Montreal Can

Bank of Montreal Can increased its holdings in Crown Castle Inc. (NYSE:CCI) by 191.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,032,521 shares of the real estate investment trust’s stock after purchasing an additional 1,335,644 shares during the quarter. Bank of Montreal Can owned 0.47% of Crown Castle worth $195,183,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CCI. Prosperity Consulting Group LLC raised its stake in Crown Castle by 4.4% in the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 95 shares in the last quarter. Granite Investment Partners LLC grew its holdings in shares of Crown Castle by 0.5% during the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock worth $1,899,000 after purchasing an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Crown Castle by 12.8% during the first quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 108 shares during the last quarter. Gilbert & Cook Inc. grew its holdings in shares of Crown Castle by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock worth $355,000 after purchasing an additional 110 shares during the last quarter. Finally, HM Payson & Co. grew its holdings in shares of Crown Castle by 5.3% during the first quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’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 sale, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.

Crown Castle Stock Up 1.3 %

Shares of NYSE CCI opened at $116.85 on Tuesday. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $120.92. The firm has a fifty day moving average of $111.86 and a 200-day moving average of $104.03. The stock has a market capitalization of $50.77 billion, a PE ratio of 36.52 and a beta of 0.85. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the previous year, the company earned $2.05 EPS. The business’s quarterly revenue was down 12.9% compared to the same quarter last year. On average, analysts anticipate that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.36%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CCI shares. JPMorgan Chase & Co. raised their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group assumed coverage on Crown Castle in a report on Monday, July 1st. They issued a “neutral” rating and a $104.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, Bank of America lifted their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Twelve 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 company has a consensus rating of “Hold” and a consensus target price of $114.33.

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.