MBB Public Markets I LLC Purchases 28,025 Shares of Crown Castle Inc. (NYSE:CCI)

MBB Public Markets I LLC boosted its position in Crown Castle Inc. (NYSE:CCI) by 1,198.7% in the second quarter, Holdings Channel.com reports. The firm owned 30,363 shares of the real estate investment trust’s stock after buying an additional 28,025 shares during the quarter. MBB Public Markets I LLC’s holdings in Crown Castle were worth $2,966,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new position in Crown Castle in the fourth quarter worth $25,000. EntryPoint Capital LLC bought a new position in shares of Crown Castle during the first quarter valued at $27,000. Asset Dedication LLC increased its holdings in shares of Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares in the last quarter. Richardson Financial Services Inc. bought a new position in shares of Crown Castle during the fourth quarter valued at $30,000. Finally, Beacon Capital Management LLC increased its holdings in shares of Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 177 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the subject of several analyst reports. Raymond James restated an “outperform” rating and set a $126.00 price target (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Bank of America increased their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. TD Cowen increased their price objective on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada increased their price objective on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $115.40.

Insider Activity at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.

Crown Castle Stock Up 1.6 %

NYSE CCI opened at $116.61 on Friday. The stock’s 50-day moving average price is $112.78 and its 200-day moving average price is $104.21. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $120.92. The company has a market capitalization of $50.68 billion, a P/E ratio of 36.44 and a beta of 0.85.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The business’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. On average, equities research analysts predict that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend is Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Crown Castle Company 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.