Redwood Investment Management LLC Increases Stock Position in Crown Castle Inc. (NYSE:CCI)

Redwood Investment Management LLC grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,898 shares of the real estate investment trust’s stock after purchasing an additional 476 shares during the period. Redwood Investment Management LLC’s holdings in Crown Castle were worth $1,624,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Accurate Wealth Management LLC grew its holdings in Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 124 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Crown Castle by 12.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 126 shares during the last quarter. IFP Advisors Inc lifted its position in Crown Castle by 5.9% during the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 133 shares during the last quarter. Howard Capital Management Inc. grew its stake in shares of Crown Castle by 1.2% in the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock worth $1,041,000 after buying an additional 135 shares in the last quarter. Finally, Cidel Asset Management Inc. increased its holdings in shares of Crown Castle by 6.4% in the 4th quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 137 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 2.5%

Shares of NYSE CCI opened at $100.71 on Friday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The business has a fifty day moving average price of $101.69 and a 200 day moving average price of $97.66. The stock has a market capitalization of $43.85 billion, a P/E ratio of 35.71 and a beta of 0.93. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.62). The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.72 EPS. Equities research analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.22%. Crown Castle’s payout ratio is -58.18%.

Insider Transactions at Crown Castle

In related news, EVP Edward B. Adams, Jr. sold 8,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $106.37, for a total value of $850,960.00. Following the completion of the transaction, the executive vice president now directly owns 20,528 shares of the company’s stock, valued at $2,183,563.36. This trade represents a 28.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel K. Schlanger sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $106.38, for a total transaction of $2,127,600.00. Following the sale, the chief executive officer now directly owns 110,571 shares in the company, valued at approximately $11,762,542.98. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,600 shares of company stock valued at $3,362,752 in the last quarter. 0.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America began coverage on Crown Castle in a research note on Thursday, March 20th. They set a “neutral” rating and a $110.00 price objective on the stock. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. New Street Research upgraded shares of Crown Castle from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced their target price on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Finally, Citigroup lifted their price target on shares of Crown Castle from $108.00 to $124.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $112.41.

Crown Castle 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.