Crown Castle Inc. (NYSE:CCI) Shares Bought by Moody National Bank Trust Division

Moody National Bank Trust Division grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 11.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,027 shares of the real estate investment trust’s stock after purchasing an additional 697 shares during the quarter. Moody National Bank Trust Division’s holdings in Crown Castle were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in Crown Castle in the 4th quarter valued at about $581,503,000. M&G Plc purchased a new position in Crown Castle in the 1st quarter worth approximately $221,573,000. Mizuho Markets Americas LLC purchased a new position in Crown Castle in the 4th quarter worth approximately $201,582,000. Balyasny Asset Management L.P. boosted its stake in shares of Crown Castle by 18,200.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,651,456 shares of the real estate investment trust’s stock valued at $190,231,000 after buying an additional 1,642,432 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Crown Castle by 68,262.1% during the 1st quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock valued at $131,239,000 after buying an additional 1,238,274 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the transaction, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CCI shares. BMO Capital Markets raised their target price on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Royal Bank of Canada increased their target price on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Bank of America raised their price target on shares of Crown Castle from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, TD Cowen boosted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $113.20.

Crown Castle Stock Performance

Shares of NYSE CCI traded down $4.39 during mid-day trading on Monday, hitting $110.82. The company had a trading volume of 3,694,841 shares, compared to its average volume of 2,763,864. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $119.50. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.42. The stock has a market cap of $48.16 billion, a price-to-earnings ratio of 35.53 and a beta of 0.83. The firm’s 50 day simple moving average is $101.05 and its two-hundred day simple moving average is $102.72.

Crown Castle (NYSE:CCI) last released its quarterly earnings data 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 return on equity of 19.20% and a net margin of 17.98%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the company posted $2.05 EPS. The company’s revenue was down 12.9% compared to the same quarter last year. As a group, equities research analysts forecast that Crown Castle Inc. will post 6.63 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 5.65%. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Crown Castle Company 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.