Two Sigma Investments LP Has $8.76 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Two Sigma Investments LP increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 327.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,529 shares of the real estate investment trust’s stock after purchasing an additional 73,929 shares during the quarter. Two Sigma Investments LP’s holdings in Crown Castle were worth $8,761,000 at the end of the most recent reporting period.

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

Insider Transactions at Crown Castle

In related news, EVP Edward B. Adams, Jr. sold 8,000 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.37, for a total transaction of $850,960.00. Following the sale, the executive vice president now owns 20,528 shares of the company’s stock, valued at $2,183,563.36. This represents a 28.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert Sean Collins sold 3,600 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.72, for a total transaction of $384,192.00. Following the transaction, the vice president now owns 6,465 shares of the company’s stock, valued at $689,944.80. This trade represents a 35.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,600 shares of company stock valued at $3,362,752. 0.10% of the stock is currently owned by corporate insiders.

Crown Castle Stock Performance

CCI opened at $100.17 on Friday. The company has a 50 day simple moving average of $101.91 and a two-hundred day simple moving average of $97.37. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market cap of $43.62 billion, a P/E ratio of 35.52 and a beta of 0.93. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

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

Crown Castle Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Friday, June 13th. Crown Castle’s payout ratio is currently -58.18%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CCI shares. Wall Street Zen lowered shares of Crown Castle from a “hold” rating to a “sell” rating in a research note on Wednesday. Royal Bank of Canada increased their price target on Crown Castle from $107.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. Barclays raised their price target on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, March 17th. Citigroup boosted their price target on shares of Crown Castle from $108.00 to $124.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.71.

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.