Crown Castle Inc. (NYSE:CCI) Shares Purchased by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC increased its position in shares of Crown Castle Inc. (NYSE:CCI) by 13.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,266 shares of the real estate investment trust’s stock after purchasing an additional 397 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Crown Castle were worth $340,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Crown Castle during the fourth quarter worth about $561,714,000. Vanguard Group Inc. increased its stake in Crown Castle by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock valued at $5,672,451,000 after purchasing an additional 5,934,615 shares during the last quarter. Wellington Management Group LLP raised its holdings in Crown Castle by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust’s stock worth $1,892,332,000 after purchasing an additional 3,321,249 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Crown Castle by 37.3% during the 4th quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust’s stock worth $525,849,000 after buying an additional 1,573,043 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Crown Castle in the 4th quarter valued at $95,167,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CCI has been the subject of several recent research reports. Argus upgraded shares of Crown Castle to a “hold” rating in a research note on Friday, March 21st. KeyCorp boosted their price objective on shares of Crown Castle from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. JMP Securities raised their target price on shares of Crown Castle from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 1st. Royal Bank Of Canada boosted their price target on shares of Crown Castle from $107.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. Finally, Wall Street Zen cut shares of Crown Castle from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.71.

Crown Castle Stock Performance

NYSE:CCI opened at $100.09 on Friday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market cap of $43.58 billion, a PE ratio of -9.30, a P/E/G ratio of 0.77 and a beta of 0.88. The firm has a 50 day simple moving average of $101.38 and a 200-day simple moving average of $96.71. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.62). Crown Castle had a negative net margin of 78.12% and a negative return on equity of 164.40%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $1.72 earnings per share. The company’s revenue was down 4.8% on a year-over-year basis. On average, equities analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.0625 per share. The ex-dividend date is Friday, June 13th. This represents a $4.25 annualized dividend and a yield of 4.25%. Crown Castle’s dividend payout ratio is presently -39.50%.

Insider Transactions at Crown Castle

In other Crown Castle news, CEO Daniel K. Schlanger sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.38, for a total value of $2,127,600.00. Following the transaction, the chief executive officer now directly owns 110,571 shares of the company’s stock, valued at $11,762,542.98. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert Sean Collins sold 3,600 shares of the business’s 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 transaction, the vice president now owns 6,465 shares in the company, valued at approximately $689,944.80. This represents a 35.77% 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 in the last three months. 0.10% of the stock is currently owned by company insiders.

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.