89,430 Shares in Crown Castle Inc. $CCI Bought by SEB Asset Management AB

SEB Asset Management AB purchased a new stake in Crown Castle Inc. (NYSE:CCI) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 89,430 shares of the real estate investment trust’s stock, valued at approximately $7,272,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wiser Advisor Group LLC acquired a new stake in shares of Crown Castle in the third quarter valued at about $29,000. Triumph Capital Management acquired a new position in Crown Castle during the 3rd quarter worth approximately $31,000. Hilton Head Capital Partners LLC lifted its position in Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 134 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Crown Castle in the 1st quarter worth approximately $32,000. Finally, Salomon & Ludwin LLC boosted its holdings in Crown Castle by 128.7% in the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CCI. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Wolfe Research downgraded shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 20th. KeyCorp raised their price target on shares of Crown Castle from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. The Goldman Sachs Group began coverage on shares of Crown Castle in a research note on Friday, June 26th. They set a “neutral” rating and a $95.00 price target on the stock. Finally, BMO Capital Markets boosted their price objective on shares of Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.52.

Crown Castle Stock Down 2.5%

Shares of NYSE CCI opened at $76.20 on Wednesday. Crown Castle Inc. has a fifty-two week low of $73.75 and a fifty-two week high of $115.76. The business has a 50 day moving average price of $85.10 and a two-hundred day moving average price of $85.99. The firm has a market cap of $33.26 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.55. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $995.41 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.Crown Castle’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 EPS. On average, analysts anticipate that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Monday, June 15th. Crown Castle’s payout ratio is 175.62%.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.