Jason Genrich Buys 99 Shares of Crown Castle Inc. (NYSE:CCI) Stock

Crown Castle Inc. (NYSE:CCI) Director Jason Genrich acquired 99 shares of Crown Castle stock in a transaction on Thursday, January 18th. The shares were purchased at an average cost of $109.32 per share, with a total value of $10,822.68. Following the completion of the acquisition, the director now owns 3,023 shares of the company’s stock, valued at approximately $330,474.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Jason Genrich also recently made the following trade(s):

• On Tuesday, April 2nd, Jason Genrich purchased 18 shares of Crown Castle stock. The shares were purchased at an average cost of $103.17 per share, for a total transaction of $1,857.06.

Crown Castle Price Performance

Crown Castle stock opened at $96.14 on Wednesday. The business has a 50-day simple moving average of $101.99 and a 200 day simple moving average of $105.63. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $119.60. The stock has a market cap of $41.77 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.59 and a beta of 0.76. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 3.73.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the company posted $1.91 earnings per share. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, research analysts forecast that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.51%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCI. United Services Automobile Association boosted its holdings in shares of Crown Castle by 23.1% in the 3rd quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock worth $1,234,000 after purchasing an additional 2,516 shares in the last quarter. Court Place Advisors LLC bought a new position in Crown Castle during the fourth quarter valued at approximately $201,000. Van ECK Associates Corp raised its stake in shares of Crown Castle by 0.5% during the third quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock worth $10,852,000 after acquiring an additional 542 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Crown Castle by 8,611.0% in the 4th quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock worth $81,006,000 after acquiring an additional 695,163 shares during the last quarter. Finally, Manning & Napier Group LLC purchased a new stake in shares of Crown Castle in the 4th quarter valued at $5,005,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CCI. Argus cut Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Barclays upped their price target on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 23rd. BMO Capital Markets reduced their price objective on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. Wells Fargo & Company dropped their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. Finally, Royal Bank of Canada cut their price target on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and an average target price of $112.64.

About Crown Castle

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.