145,000 Shares in Crown Castle Inc. (NYSE:CCI) Purchased by Rheos Capital Works Inc.

Rheos Capital Works Inc. acquired a new stake in Crown Castle Inc. (NYSE:CCI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 145,000 shares of the real estate investment trust’s stock, valued at approximately $17,201,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Presima Securities ULC increased its holdings in shares of Crown Castle by 1.4% in the 3rd quarter. Presima Securities ULC now owns 21,795 shares of the real estate investment trust’s stock valued at $2,586,000 after purchasing an additional 300 shares in the last quarter. Leisure Capital Management boosted its position in Crown Castle by 3.5% during the third quarter. Leisure Capital Management now owns 8,709 shares of the real estate investment trust’s stock worth $1,033,000 after purchasing an additional 297 shares in the last quarter. SeaCrest Wealth Management LLC increased its position in shares of Crown Castle by 15.6% in the third quarter. SeaCrest Wealth Management LLC now owns 6,343 shares of the real estate investment trust’s stock valued at $752,000 after buying an additional 858 shares in the last quarter. Tsfg LLC raised its stake in shares of Crown Castle by 27.5% during the 3rd quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 117 shares during the last quarter. Finally, Bill Few Associates Inc. boosted its position in shares of Crown Castle by 3.8% in the 3rd quarter. Bill Few Associates Inc. now owns 5,501 shares of the real estate investment trust’s stock worth $653,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Transactions at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle 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 sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target 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 raised their price target on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their price objective on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group boosted their target price on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, Barclays lifted their price target on shares of Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $115.86.

Crown Castle Stock Up 1.3 %

Shares of NYSE CCI opened at $115.78 on Thursday. The stock has a fifty day moving average price of $113.98 and a 200 day moving average price of $105.00. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $120.92. The company has a market cap of $50.31 billion, a P/E ratio of 42.41 and a beta of 0.85.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 earnings per share. Research analysts anticipate that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.41%. Crown Castle’s dividend payout ratio is currently 229.30%.

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.