Crown Castle Inc. (NYSE:CCI) Holdings Raised by Penserra Capital Management LLC

Penserra Capital Management LLC grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 8.4% in the 1st quarter, HoldingsChannel reports. The firm owned 15,375 shares of the real estate investment trust’s stock after acquiring an additional 1,192 shares during the quarter. Penserra Capital Management LLC’s holdings in Crown Castle were worth $1,601,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Twin Tree Management LP acquired a new position in Crown Castle during the fourth quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in Crown Castle during the first quarter valued at $26,000. American National Bank & Trust acquired a new position in Crown Castle during the first quarter valued at $29,000. Capital Advisors Ltd. LLC raised its position in Crown Castle by 62.1% during the first quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 133 shares during the period. Finally, Vermillion Wealth Management Inc. acquired a new position in Crown Castle during the fourth quarter valued at $38,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Up 0.7%

CCI opened at $102.61 on Wednesday. The firm has a market capitalization of $44.68 billion, a P/E ratio of -9.54, a price-to-earnings-growth ratio of 0.79 and a beta of 0.88. The stock’s 50 day moving average price is $101.47 and its two-hundred day moving average price is $97.08. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle (NYSE:CCI) last posted its earnings results 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 company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative return on equity of 164.40% and a negative net margin of 78.12%. Crown Castle’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.72 EPS. As a group, analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $1.0625 dividend. The ex-dividend date was Friday, June 13th. This represents a $4.25 annualized dividend and a yield of 4.14%. Crown Castle’s payout ratio is -39.50%.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, VP Robert Sean Collins sold 3,600 shares of Crown Castle stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.72, for a total value of $384,192.00. Following the completion of the transaction, the vice president owned 6,465 shares in the company, valued at approximately $689,944.80. The trade was a 35.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of Crown Castle stock in a transaction 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 owned 20,528 shares of the company’s stock, valued at approximately $2,183,563.36. The trade was a 28.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,600 shares of company stock worth $3,362,752. 0.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CCI. Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $85.00 to $105.00 in a research report on Monday, March 17th. JPMorgan Chase & Co. cut their price target on Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. New Street Research raised Crown Castle from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 1st. Argus raised Crown Castle to a “hold” rating in a research note on Friday, March 21st. Finally, Scotiabank raised their price target on Crown Castle from $99.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $113.06.

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.