Toronto Dominion Bank Has $29.29 Million Stake in Crown Castle Inc. (NYSE:CCI)

Toronto Dominion Bank decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 11.6% in the first quarter, Holdings Channel reports. The fund owned 276,728 shares of the real estate investment trust’s stock after selling 36,330 shares during the period. Toronto Dominion Bank’s holdings in Crown Castle were worth $29,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCI. Vanguard Group Inc. raised its position in shares of Crown Castle by 1.2% during the first quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock valued at $5,990,991,000 after buying an additional 673,243 shares during the last quarter. Cohen & Steers Inc. raised its position in shares of Crown Castle by 7.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after buying an additional 834,198 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Crown Castle by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock valued at $1,297,147,000 after buying an additional 1,126,394 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Crown Castle by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,478,477 shares of the real estate investment trust’s stock worth $625,975,000 after purchasing an additional 122,948 shares in the last quarter. Finally, Norges Bank acquired a new position in Crown Castle in the fourth quarter worth about $581,503,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of several recent research reports. Barclays increased their price target on shares of Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 23rd. TD Cowen increased their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Wells Fargo & Company dropped their price target on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. Finally, BMO Capital Markets increased their price target on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $114.88.

Crown Castle Price Performance

CCI traded up $1.99 during trading on Friday, hitting $107.52. The company’s stock had a trading volume of 1,631,832 shares, compared to its average volume of 2,465,425. The firm’s 50 day moving average price is $99.92 and its two-hundred day moving average price is $102.88. The company has a quick ratio of 0.42, a current 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 $119.50. The stock has a market capitalization of $46.72 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 2.79 and a beta of 0.83.

Crown Castle (NYSE:CCI) last released 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. The company had revenue of $1.63 billion during 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 firm’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 earnings per share. Sell-side analysts forecast that Crown Castle Inc. will post 6.63 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.82%. Crown Castle’s payout ratio is currently 195.63%.

Insider Transactions at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction 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 completion of the sale, the chief operating officer now owns 75,127 shares in the company, valued at $7,792,172.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Crown Castle 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.