EverSource Wealth Advisors LLC Has $433,000 Stock Holdings in Crown Castle Inc. (NYSE:CCI)

EverSource Wealth Advisors LLC increased its stake in shares of Crown Castle Inc. (NYSE:CCIGet Rating) by 165.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,340 shares of the real estate investment trust’s stock after buying an additional 1,460 shares during the period. EverSource Wealth Advisors LLC’s holdings in Crown Castle were worth $433,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CCI. Acadian Asset Management LLC raised its position in shares of Crown Castle by 91.9% in the 4th quarter. Acadian Asset Management LLC now owns 6,067 shares of the real estate investment trust’s stock valued at $1,265,000 after buying an additional 2,905 shares in the last quarter. JPMorgan Chase & Co. increased its position in Crown Castle by 11.8% during the 4th quarter. JPMorgan Chase & Co. now owns 800,976 shares of the real estate investment trust’s stock worth $167,196,000 after purchasing an additional 84,543 shares in the last quarter. Covestor Ltd acquired a new position in Crown Castle during the 4th quarter worth approximately $60,000. Prudential PLC acquired a new position in Crown Castle in the 4th quarter valued at approximately $2,223,000. Finally, MAI Capital Management increased its position in Crown Castle by 3.0% in the 4th quarter. MAI Capital Management now owns 17,033 shares of the real estate investment trust’s stock valued at $3,556,000 after acquiring an additional 503 shares during the period. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Crown Castle from $180.00 to $175.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 19th. Citigroup cut their target price on shares of Crown Castle from $204.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, July 11th. KeyCorp cut their target price on shares of Crown Castle from $219.00 to $205.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. Barclays cut their target price on shares of Crown Castle from $214.00 to $212.00 and set an “overweight” rating on the stock in a research note on Friday, August 26th. Finally, Cowen cut their target price on shares of Crown Castle to $195.00 in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $195.33.

Crown Castle Trading Down 2.9 %

Shares of Crown Castle stock opened at $161.60 on Friday. Crown Castle Inc. has a 1 year low of $153.70 and a 1 year high of $209.87. The firm has a market cap of $69.98 billion, a PE ratio of 45.39 and a beta of 0.60. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.69 and a quick ratio of 0.69. The company has a 50 day simple moving average of $174.97 and a two-hundred day simple moving average of $178.13.

Crown Castle (NYSE:CCIGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.74). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.71 billion. Crown Castle had a return on equity of 18.93% and a net margin of 22.91%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.71 earnings per share. Analysts expect that Crown Castle Inc. will post 7.03 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued 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 dividend yield of 3.64%. Crown Castle’s payout ratio is 165.17%.

Insider Activity at Crown Castle

In other news, Director Kevin A. Stephens purchased 699 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was bought at an average cost of $173.60 per share, for a total transaction of $121,346.40. Following the acquisition, the director now directly owns 10,703 shares of the company’s stock, valued at approximately $1,858,040.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by company insiders.

About Crown Castle

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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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