Teachers Retirement System of The State of Kentucky Lowers Stake in Crown Castle Inc. (NYSE:CCI)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Crown Castle Inc. (NYSE:CCIGet Rating) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,554 shares of the real estate investment trust’s stock after selling 1,329 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Crown Castle were worth $5,640,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Crown Castle by 15.3% in the 4th quarter. BlackRock Inc. now owns 37,010,877 shares of the real estate investment trust’s stock worth $7,725,650,000 after acquiring an additional 4,919,828 shares during the last quarter. Norges Bank purchased a new position in Crown Castle during the fourth quarter valued at $815,548,000. State Street Corp boosted its holdings in shares of Crown Castle by 6.4% during the 1st quarter. State Street Corp now owns 20,925,592 shares of the real estate investment trust’s stock valued at $3,862,864,000 after buying an additional 1,261,426 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Crown Castle by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 56,909,352 shares of the real estate investment trust’s stock worth $10,505,466,000 after buying an additional 1,015,352 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Crown Castle by 82.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,463,883 shares of the real estate investment trust’s stock valued at $270,233,000 after acquiring an additional 662,907 shares during the period. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Up 1.0 %

NYSE:CCI opened at $163.22 on Friday. The stock has a fifty day simple moving average of $174.61 and a 200-day simple moving average of $178.06. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.70. The company has a market cap of $70.68 billion, a price-to-earnings ratio of 45.85 and a beta of 0.60. Crown Castle Inc. has a twelve month low of $153.70 and a twelve month high of $209.87.

Crown Castle (NYSE:CCIGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.74). Crown Castle had a net margin of 22.91% and a return on equity of 18.93%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the firm earned $1.71 earnings per share. Crown Castle’s quarterly revenue was up 9.5% on a year-over-year basis. Analysts anticipate that Crown Castle Inc. will post 7.03 EPS for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $1.47 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $5.88 annualized dividend and a yield of 3.60%. Crown Castle’s dividend payout ratio (DPR) is presently 165.17%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of recent research reports. Credit Suisse Group cut their price objective on shares of Crown Castle to $213.00 in a report on Friday, July 22nd. Wells Fargo & Company lowered their price target on Crown Castle from $180.00 to $175.00 and set an “underweight” rating on the stock in a report on Tuesday, July 19th. Citigroup cut their target price on shares of Crown Castle from $204.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, July 11th. Barclays lowered their price objective on shares of Crown Castle from $214.00 to $212.00 and set an “overweight” rating on the stock in a research note on Friday, August 26th. Finally, Cowen reduced their price target on Crown Castle to $195.00 in a research report on Friday, July 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and an average target price of $195.20.

Insider Buying and Selling at Crown Castle

In other news, Director Kevin A. Stephens acquired 699 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were purchased at an average price of $173.60 per share, with a total value of $121,346.40. Following the transaction, the director now directly owns 10,703 shares in the company, valued at $1,858,040.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Crown Castle Profile

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

See Also

Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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