White Knight Strategic Wealth Advisors LLC Purchases 5,784 Shares of Crown Castle Inc. (NYSE:CCI)

White Knight Strategic Wealth Advisors LLC grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 104.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,318 shares of the real estate investment trust’s stock after acquiring an additional 5,784 shares during the quarter. White Knight Strategic Wealth Advisors LLC’s holdings in Crown Castle were worth $1,027,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CCI. Twin Tree Management LP bought a new stake in Crown Castle during the 4th quarter valued at $25,000. Roxbury Financial LLC acquired a new position in shares of Crown Castle during the fourth quarter valued at about $37,000. Marshall Investment Management LLC bought a new stake in shares of Crown Castle during the fourth quarter worth about $50,000. Bank of Jackson Hole Trust bought a new stake in shares of Crown Castle during the fourth quarter worth about $53,000. Finally, South Plains Financial Inc. acquired a new stake in shares of Crown Castle in the 4th quarter worth about $59,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CCI shares. New Street Research upgraded Crown Castle from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 1st. Royal Bank of Canada raised their target price on Crown Castle from $107.00 to $112.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. KeyCorp increased their price target on Crown Castle from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Finally, UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a report on Friday, March 14th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and a consensus price target of $112.71.

Insider Activity at Crown Castle

In other news, VP Robert Sean Collins sold 3,600 shares of Crown Castle stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.72, for a total value of $384,192.00. Following the sale, the vice president now directly owns 6,465 shares of the company’s stock, valued at approximately $689,944.80. The trade was a 35.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel K. Schlanger sold 20,000 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were 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. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,600 shares of company stock worth $3,362,752 over the last quarter. Company insiders own 0.10% of the company’s stock.

Crown Castle Price Performance

CCI stock opened at $102.92 on Tuesday. The firm’s 50-day moving average price is $101.94 and its two-hundred day moving average price is $97.46. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The stock has a market capitalization of $44.82 billion, a price-to-earnings ratio of 36.50 and a beta of 0.93. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.62). The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.72 EPS. As a group, equities analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s payout ratio is -58.18%.

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.