True North Advisors LLC Invests $209,000 in Crown Castle Inc. (NYSE:CCI)

True North Advisors LLC purchased a new position in shares of Crown Castle Inc. (NYSE:CCI) in the first quarter, Holdings Channel.com reports. The firm purchased 2,006 shares of the real estate investment trust’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock valued at $7,175,256,000 after acquiring an additional 6,341,150 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Crown Castle by 60.9% in the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock valued at $570,443,000 after acquiring an additional 2,072,198 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Crown Castle by 107.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,730,309 shares of the real estate investment trust’s stock valued at $284,580,000 after acquiring an additional 1,412,992 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Crown Castle by 575.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,285,972 shares of the real estate investment trust’s stock valued at $134,037,000 after acquiring an additional 1,095,455 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Crown Castle by 24.2% in the 4th quarter. Northern Trust Corp now owns 4,729,215 shares of the real estate investment trust’s stock valued at $429,224,000 after acquiring an additional 920,428 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Down 1.5%

Shares of NYSE:CCI opened at $104.58 on Friday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The firm has a market capitalization of $45.54 billion, a PE ratio of -9.80, a PEG ratio of 0.79 and a beta of 0.89. The business’s 50 day moving average is $103.33 and its 200-day moving average is $99.83.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm earned $1.62 EPS. Crown Castle’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, September 15th. Crown Castle’s dividend payout ratio (DPR) is -39.83%.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Crown Castle in a research note on Thursday, July 24th. Royal Bank Of Canada raised their price objective on Crown Castle from $112.00 to $113.00 and gave the company a “sector perform” rating in a research note on Thursday. BMO Capital Markets raised their price objective on Crown Castle from $108.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th. New Street Research raised Crown Castle from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 1st. Finally, KeyCorp raised their target price on Crown Castle from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and an average target price of $116.24.

About Crown Castle

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.