Crown Castle Inc. (NYSE:CCI) Shares Bought by Financial Advocates Investment Management

Financial Advocates Investment Management lifted its stake in shares of Crown Castle Inc. (NYSE:CCIGet Rating) by 147.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,974 shares of the real estate investment trust’s stock after purchasing an additional 3,564 shares during the quarter. Financial Advocates Investment Management’s holdings in Crown Castle were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Blume Capital Management Inc. bought a new stake in shares of Crown Castle in the 1st quarter worth approximately $29,000. Rational Advisors LLC lifted its holdings in shares of Crown Castle by 66.1% during the first quarter. Rational Advisors LLC now owns 211 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Investors Research Corp boosted its position in shares of Crown Castle by 976.0% in the 2nd quarter. Investors Research Corp now owns 269 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 244 shares during the period. Core Alternative Capital boosted its position in shares of Crown Castle by 1,147.6% in the 1st quarter. Core Alternative Capital now owns 262 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 241 shares during the period. Finally, Janiczek Wealth Management LLC increased its stake in Crown Castle by 13,200.0% in the 2nd quarter. Janiczek Wealth Management LLC now owns 266 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 264 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Activity at Crown Castle

In other news, Director Kevin A. Stephens bought 2,000 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was bought at an average price of $123.50 per share, for a total transaction of $247,000.00. Following the completion of the purchase, the director now owns 12,703 shares of the company’s stock, valued at approximately $1,568,820.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Crown Castle news, Director Kevin A. Stephens bought 2,000 shares of the firm’s stock in a transaction dated Monday, October 24th. The shares were bought at an average price of $123.50 per share, for a total transaction of $247,000.00. Following the completion of the acquisition, the director now owns 12,703 shares of the company’s stock, valued at $1,568,820.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Thornton III purchased 1,215 shares of the stock in a transaction dated Friday, October 21st. The shares were acquired at an average price of $123.78 per share, with a total value of $150,392.70. Following the transaction, the director now owns 5,761 shares in the company, valued at $713,096.58. The disclosure for this purchase can be found here. 0.47% of the stock is owned by insiders.

Crown Castle Stock Performance

NYSE:CCI opened at $140.12 on Thursday. Crown Castle Inc. has a 52-week low of $121.71 and a 52-week high of $209.87. The company has a market cap of $60.68 billion, a price-to-earnings ratio of 37.67 and a beta of 0.60. The firm’s 50-day moving average is $139.03 and its 200-day moving average is $162.52. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.46 and a current ratio of 0.46.

Crown Castle (NYSE:CCIGet Rating) last announced its quarterly earnings data on Thursday, October 20th. The real estate investment trust reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Crown Castle had a return on equity of 20.28% and a net margin of 23.47%. Crown Castle’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.77 EPS. Equities research analysts anticipate that Crown Castle Inc. will post 7.03 earnings per share for the current year.

Crown Castle Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be issued a $1.565 dividend. The ex-dividend date is Wednesday, December 14th. This is a boost from Crown Castle’s previous quarterly dividend of $1.47. This represents a $6.26 dividend on an annualized basis and a dividend yield of 4.47%. Crown Castle’s dividend payout ratio is presently 158.06%.

Analysts Set New Price Targets

Several research analysts have commented on CCI shares. Raymond James raised their target price on shares of Crown Castle from $143.00 to $153.00 and gave the stock a “market outperform” rating in a report on Wednesday. Cowen lowered their price objective on shares of Crown Castle from $195.00 to $149.00 and set an “outperform” rating on the stock in a research report on Friday, October 21st. Royal Bank of Canada reduced their target price on Crown Castle from $202.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. KeyCorp decreased their target price on Crown Castle from $177.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 21st. Finally, Wells Fargo & Company reduced their price objective on Crown Castle from $175.00 to $135.00 and set an “underweight” rating for the company in a research note on Tuesday, October 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.93.

Crown Castle Profile

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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