Livforsakringsbolaget Skandia Omsesidigt Grows Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 362.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,679 shares of the real estate investment trust’s stock after acquiring an additional 2,100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Crown Castle were worth $318,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Crown Castle in the fourth quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new position in Crown Castle in the 1st quarter valued at $27,000. Asset Dedication LLC raised its position in Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares during the last quarter. Richardson Financial Services Inc. purchased a new position in Crown Castle during the 4th quarter worth $30,000. Finally, Beacon Capital Management LLC lifted its stake in shares of Crown Castle by 163.9% in the 1st 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 period. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction that occurred 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 transaction, the chief operating officer now directly 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 is available at the SEC website. 0.39% of the stock is owned by company insiders.

Crown Castle Stock Performance

CCI 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 company has a market capitalization of $48.15 billion, a price-to-earnings ratio of 40.59 and a beta of 0.85. The business has a 50 day moving average price of $113.84 and a two-hundred day moving average price of $104.82. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $120.92.

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 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 business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the firm posted $2.05 earnings per share. The firm’s quarterly revenue was down 12.9% compared to the same quarter last year. Research analysts predict that Crown Castle Inc. will post 6.64 EPS for the current fiscal year.

Crown Castle Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.