Anderson Hoagland & Co. Purchases 377 Shares of Crown Castle Inc. (NYSE:CCI)

Anderson Hoagland & Co. boosted its position in Crown Castle Inc. (NYSE:CCI) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,701 shares of the real estate investment trust’s stock after purchasing an additional 377 shares during the quarter. Anderson Hoagland & Co.’s holdings in Crown Castle were worth $3,840,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Almanack Investment Partners LLC. bought a new stake in shares of Crown Castle in the 3rd quarter worth $28,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Crown Castle in the 4th quarter worth $29,000. Centerpoint Advisors LLC bought a new position in shares of Crown Castle in the first quarter worth about $29,000. ST Germain D J Co. Inc. bought a new stake in Crown Castle during the 4th quarter worth approximately $31,000. Finally, American National Bank raised its position in shares of Crown Castle by 234.2% during the 1st quarter. American National Bank now owns 244 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 171 shares during the period. Hedge funds and other institutional investors own 90.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CCI. Wells Fargo & Company decreased their price target on shares of Crown Castle from $115.00 to $110.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 18th. BMO Capital Markets dropped their price objective on Crown Castle from C$113.00 to C$106.00 and set an “underperform” rating on the stock in a research note on Thursday, July 20th. Bank of America downgraded shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $115.00 target price on the stock. in a research report on Thursday, August 10th. Citigroup cut their price target on Crown Castle from $162.00 to $138.00 in a report on Thursday, July 20th. Finally, StockNews.com began coverage on shares of Crown Castle in a research note on Thursday, August 17th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.56.

Crown Castle Price Performance

Shares of CCI traded down $0.09 on Friday, reaching $98.54. The stock had a trading volume of 1,044,381 shares, compared to its average volume of 2,495,414. Crown Castle Inc. has a twelve month low of $95.73 and a twelve month high of $164.23. The firm has a market capitalization of $42.73 billion, a PE ratio of 25.03 and a beta of 0.64. The firm has a 50-day moving average of $105.25 and a 200 day moving average of $116.05. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.07.

Crown Castle (NYSE:CCI) last posted its earnings results on Thursday, July 20th. The real estate investment trust reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.74). Crown Castle had a return on equity of 23.20% and a net margin of 23.85%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the firm posted $1.80 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts expect that Crown Castle Inc. will post 7.13 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.35%. The ex-dividend date of this dividend is Thursday, September 14th. Crown Castle’s dividend payout ratio (DPR) is presently 158.88%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 85,000 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.