Raiffeisen Bank International AG Takes $170,000 Position in Crown Castle Inc. (NYSE:CCI)

Raiffeisen Bank International AG purchased a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,898 shares of the real estate investment trust’s stock, valued at approximately $170,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Tree Management LP acquired a new position in Crown Castle during the 4th quarter worth approximately $25,000. Roxbury Financial LLC acquired a new position in Crown Castle during the 4th quarter worth approximately $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 Crown Castle during the 4th quarter worth approximately $53,000. Finally, South Plains Financial Inc. acquired a new position in Crown Castle during the 4th quarter worth approximately $59,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Edward B. Adams, Jr. sold 8,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.37, for a total transaction of $850,960.00. Following the transaction, the executive vice president now directly owns 20,528 shares of the company’s stock, valued at approximately $2,183,563.36. This trade represents a 28.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel K. Schlanger sold 20,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were 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 in the company, valued at $11,762,542.98. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,600 shares of company stock valued at $3,362,752. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CCI. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Friday, March 14th. Moffett Nathanson cut their target price on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. JMP Securities upped their target price on Crown Castle from $115.00 to $125.00 and gave the company a “market outperform” rating in a research report on Thursday, May 1st. Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $128.00 to $122.00 in a research report on Friday, March 14th. Finally, StockNews.com raised Crown Castle from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Crown Castle has an average rating of “Moderate Buy” and an average target price of $112.41.

Crown Castle Price Performance

Shares of CCI opened at $102.30 on Monday. The company has a market cap of $44.55 billion, a P/E ratio of 36.28 and a beta of 0.93. The stock has a fifty day moving average price of $101.78 and a 200 day moving average price of $97.49. 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 Inc. has a 12 month low of $84.20 and a 12 month 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 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.62). The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period last year, the business posted $1.72 earnings per share. On average, research analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) 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.