Brookstone Capital Management Increases Position in Crown Castle Inc. (NYSE:CCI)

Brookstone Capital Management grew its stake in Crown Castle Inc. (NYSE:CCIGet Rating) by 13.7% during the second quarter, HoldingsChannel reports. The fund owned 3,723 shares of the real estate investment trust’s stock after acquiring an additional 449 shares during the quarter. Brookstone Capital Management’s holdings in Crown Castle were worth $638,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CCI. Gamco Investors INC. ET AL purchased a new position in shares of Crown Castle in the 4th quarter valued at $240,000. Schroder Investment Management Group grew its stake in Crown Castle by 21.5% during the 4th quarter. Schroder Investment Management Group now owns 96,586 shares of the real estate investment trust’s stock worth $20,161,000 after buying an additional 17,083 shares during the last quarter. Clark Capital Management Group Inc. purchased a new position in Crown Castle during the 4th quarter worth $241,000. Gotham Asset Management LLC grew its stake in Crown Castle by 6.0% during the 4th quarter. Gotham Asset Management LLC now owns 10,615 shares of the real estate investment trust’s stock worth $2,216,000 after buying an additional 597 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its stake in Crown Castle by 3.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 43,178 shares of the real estate investment trust’s stock worth $9,013,000 after buying an additional 1,422 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Crown Castle Stock Performance

Shares of CCI stock opened at $157.09 on Friday. The stock has a market cap of $68.03 billion, a PE ratio of 44.13 and a beta of 0.60. The business has a 50-day simple moving average of $173.71 and a 200-day simple moving average of $177.62. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.70. Crown Castle Inc. has a 52-week low of $153.70 and a 52-week high of $209.87.

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

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors 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 yield of 3.74%. Crown Castle’s payout ratio is 165.17%.

Wall Street Analyst Weigh In

CCI has been the topic of several research analyst reports. Jefferies Financial Group upgraded Crown Castle from a “hold” rating to a “buy” rating and boosted their target price for the stock from $191.00 to $200.00 in a research note on Thursday, June 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Crown Castle from $183.00 to $185.00 in a research note on Friday, July 22nd. Raymond James dropped their target price on Crown Castle from $206.00 to $201.00 in a research note on Friday, July 22nd. The Goldman Sachs Group dropped their target price on Crown Castle from $189.00 to $166.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 12th. Finally, Morgan Stanley lowered their price target on Crown Castle from $190.00 to $188.00 and set an “overweight” rating for the company in a research report on Friday, September 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.20.

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.

See Also

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCIGet Rating).

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

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