Leisure Capital Management Grows Position in Crown Castle Inc. (NYSE:CCI)

Leisure Capital Management boosted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 3.5% during the 3rd quarter, Holdings Channel reports. The firm owned 8,709 shares of the real estate investment trust’s stock after acquiring an additional 297 shares during the quarter. Leisure Capital Management’s holdings in Crown Castle were worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Pinnacle Bancorp Inc. grew its position in Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 90 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Crown Castle by 2.4% during the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 91 shares during the last quarter. Prosperity Consulting Group LLC grew its position in Crown Castle by 4.4% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 95 shares during the last quarter. True North Advisors LLC grew its position in Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC grew its position in Crown Castle by 0.5% during the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock worth $1,899,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

NYSE CCI traded up $1.04 during mid-day trading on Wednesday, reaching $115.34. 286,656 shares of the stock were exchanged, compared to its average volume of 2,623,364. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The business’s 50 day moving average is $113.89 and its 200-day moving average is $104.92. The company has a market capitalization of $50.12 billion, a P/E ratio of 35.72 and a beta of 0.85. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. On average, equities research analysts forecast that Crown Castle Inc. will post 6.64 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio is presently 195.63%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CCI. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. BMO Capital Markets upped their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. Bank of America upped their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. TD Cowen upped their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada upped their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.67.

Insiders Place Their Bets

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction on 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 approximately $7,792,172.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.39% of the stock is currently owned by company insiders.

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.