Wolff Wiese Magana LLC Has $1.82 Million Position in Crown Castle Inc. (NYSE:CCI)

Wolff Wiese Magana LLC lifted its stake in Crown Castle Inc. (NYSE:CCIGet Rating) by 6.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,819 shares of the real estate investment trust’s stock after purchasing an additional 664 shares during the period. Crown Castle accounts for 1.3% of Wolff Wiese Magana LLC’s portfolio, making the stock its 17th largest position. Wolff Wiese Magana LLC’s holdings in Crown Castle were worth $1,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. North Star Investment Management Corp. acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $25,000. IAG Wealth Partners LLC increased its holdings in shares of Crown Castle by 277.8% in the fourth quarter. IAG Wealth Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $28,000. Blume Capital Management Inc. acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $29,000. Finally, HWG Holdings LP acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity at Crown Castle

In other Crown Castle news, Director Kevin A. Stephens bought 699 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were purchased at an average price of $173.60 per share, for a total transaction of $121,346.40. Following the transaction, the director now directly owns 10,703 shares in the company, valued at approximately $1,858,040.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com raised shares of Crown Castle from a “hold” rating to a “buy” rating in a report on Friday, August 12th. The Goldman Sachs Group lowered their target price on shares of Crown Castle from $189.00 to $166.00 and set a “neutral” rating for the company in a report on Tuesday, July 12th. Jefferies Financial Group raised shares of Crown Castle from a “hold” rating to a “buy” rating and lifted their target price for the stock from $191.00 to $200.00 in a report on Thursday, June 30th. Cowen decreased their price target on shares of Crown Castle to $195.00 in a report on Friday, July 22nd. Finally, Morgan Stanley decreased their price target on shares of Crown Castle from $190.00 to $188.00 and set an “overweight” rating for the company in a report on Friday, September 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.20.

Crown Castle Stock Down 3.0 %

NYSE:CCI traded down $4.74 on Friday, hitting $152.35. 35,924 shares of the company’s stock were exchanged, compared to its average volume of 1,522,822. The firm has a 50-day moving average price of $173.71 and a 200-day moving average price of $177.62. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.69 and a quick ratio of 0.69. Crown Castle Inc. has a 52 week low of $153.70 and a 52 week high of $209.87. The company has a market cap of $65.97 billion, a P/E ratio of 43.54 and a beta of 0.60.

Crown Castle (NYSE:CCIGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.74). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.71 billion. Crown Castle had a return on equity of 18.93% and a net margin of 22.91%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.71 earnings per share. As a group, analysts expect that Crown Castle Inc. will post 7.04 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $5.88 dividend on an annualized basis and a yield of 3.86%. Crown Castle’s dividend payout ratio (DPR) is currently 165.17%.

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.

Further Reading

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

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