Thurston Springer Miller Herd & Titak Inc. Has $165,000 Stock Position in Crown Castle Inc. (NYSE:CCI)

Thurston Springer Miller Herd & Titak Inc. raised its stake in Crown Castle Inc. (NYSE:CCI) by 122.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,583 shares of the real estate investment trust’s stock after purchasing an additional 870 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Crown Castle were worth $165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Crown Castle by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after purchasing an additional 5,934,615 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Crown Castle by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust’s stock worth $1,892,332,000 after purchasing an additional 3,321,249 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Crown Castle by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust’s stock worth $1,119,225,000 after purchasing an additional 228,007 shares during the last quarter. Norges Bank purchased a new stake in shares of Crown Castle in the fourth quarter worth approximately $561,714,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Crown Castle by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 6,144,359 shares of the real estate investment trust’s stock worth $557,662,000 after purchasing an additional 58,903 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Crown Castle news, VP Robert Sean Collins sold 3,600 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.72, for a total transaction of $384,192.00. Following the sale, the vice president now owns 6,465 shares in the company, valued at $689,944.80. This trade represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $106.37, for a total value of $850,960.00. Following the sale, the executive vice president now owns 20,528 shares in the company, valued at $2,183,563.36. The trade was a 28.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,600 shares of company stock worth $3,362,752. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CCI. Royal Bank of Canada upped their target price on Crown Castle from $107.00 to $112.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. KeyCorp upped their target price on Crown Castle from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Scotiabank upped their target price on Crown Castle from $99.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, April 22nd. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a report on Friday, March 14th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Crown Castle in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus target price of $112.71.

Crown Castle Price Performance

Crown Castle stock opened at $98.97 on Friday. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The business has a fifty day moving average price of $101.17 and a 200-day moving average price of $97.14. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $43.10 billion, a P/E ratio of 35.09 and a beta of 0.88.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.62). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $1.72 EPS. The company’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, equities research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $1.0625 dividend. The ex-dividend date is Friday, June 13th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.29%. Crown Castle’s dividend payout ratio (DPR) is presently -39.50%.

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.