Massmutual Trust Co. FSB ADV Purchases 307 Shares of Crown Castle Inc. (NYSE:CCI)

Massmutual Trust Co. FSB ADV lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,236 shares of the real estate investment trust’s stock after purchasing an additional 307 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Crown Castle were worth $7,027,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CCI. J. W. Coons Advisors LLC bought a new position in shares of Crown Castle during the fourth quarter valued at about $208,000. KBC Group NV raised its position in Crown Castle by 59.9% in the fourth quarter. KBC Group NV now owns 115,761 shares of the real estate investment trust’s stock worth $13,335,000 after acquiring an additional 43,385 shares during the period. CWA Asset Management Group LLC bought a new stake in Crown Castle in the fourth quarter worth about $246,000. Rafferty Asset Management LLC raised its position in Crown Castle by 20.1% in the fourth quarter. Rafferty Asset Management LLC now owns 58,210 shares of the real estate investment trust’s stock worth $6,705,000 after acquiring an additional 9,762 shares during the period. Finally, Belpointe Asset Management LLC raised its position in Crown Castle by 87.7% in the fourth quarter. Belpointe Asset Management LLC now owns 9,597 shares of the real estate investment trust’s stock worth $1,106,000 after acquiring an additional 4,484 shares during the period. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $115.78 on Thursday. The company has a 50 day moving average of $113.57 and a 200 day moving average of $104.43. The stock has a market cap of $50.31 billion, a P/E ratio of 36.18 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. 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 issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. Crown Castle’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 earnings per share. As a group, sell-side analysts forecast that Crown Castle Inc. will post 6.64 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 yield of 5.41%. Crown Castle’s dividend payout ratio is presently 195.63%.

Insiders Place Their Bets

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

CCI has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Bank of America lifted their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. TD Cowen lifted their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Royal Bank of Canada lifted their target price 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. Finally, The Goldman Sachs Group lifted their target price 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. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $115.40.

About Crown Castle

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.