Toronto Dominion Bank Has $23.83 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Toronto Dominion Bank decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 11.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,914 shares of the real estate investment trust’s stock after selling 32,814 shares during the period. Toronto Dominion Bank owned about 0.06% of Crown Castle worth $23,830,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Crown Castle during the 4th quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new stake in Crown Castle in the first quarter valued at approximately $27,000. Asset Dedication LLC boosted its position in Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in Crown Castle in the fourth quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC boosted its position in Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 177 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CCI shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group raised their target price on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday. TD Cowen raised their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Raymond James restated an “outperform” rating and issued a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Finally, Royal Bank of Canada raised their price target on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $115.40.

Insider Buying and Selling

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

Crown Castle Price Performance

Shares of NYSE CCI opened at $114.78 on Friday. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $120.92. The firm has a fifty day simple moving average of $112.35 and a 200 day simple moving average of $104.16. The company has a market capitalization of $49.88 billion, a PE ratio of 35.87 and a beta of 0.85. 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 (NYSE:CCI) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the firm earned $2.05 earnings per share. Crown Castle’s quarterly revenue was down 12.9% on a year-over-year basis. On average, sell-side analysts forecast that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Announces Dividend

The company 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 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend is Friday, September 13th. Crown Castle’s dividend payout ratio 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.