Foundations Investment Advisors LLC Purchases 3,426 Shares of Crown Castle Inc. (NYSE:CCI)

Foundations Investment Advisors LLC lifted its position in Crown Castle Inc. (NYSE:CCI) by 13.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,131 shares of the real estate investment trust’s stock after acquiring an additional 3,426 shares during the period. Foundations Investment Advisors LLC’s holdings in Crown Castle were worth $2,748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CCI. Norges Bank purchased a new position in Crown Castle during the fourth quarter valued at $581,503,000. M&G Plc bought a new position in Crown Castle during the 1st quarter valued at approximately $221,573,000. Mizuho Markets Americas LLC purchased a new position in Crown Castle during the fourth quarter valued at $201,582,000. Balyasny Asset Management L.P. boosted its holdings in Crown Castle by 18,200.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,651,456 shares of the real estate investment trust’s stock worth $190,231,000 after acquiring an additional 1,642,432 shares in the last quarter. Finally, Capital International Investors grew its stake in shares of Crown Castle by 68,262.1% in the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock worth $131,239,000 after acquiring an additional 1,238,274 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 0.5 %

Shares of NYSE:CCI opened at $113.87 on Thursday. The stock’s 50-day simple moving average is $106.77 and its two-hundred day simple moving average is $103.31. The stock has a market capitalization of $49.48 billion, a price-to-earnings ratio of 35.58 and a beta of 0.85. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43.

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 (EPS) 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 company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the firm posted $2.05 earnings per share. The firm’s revenue was down 12.9% compared to the same quarter last year. Analysts expect that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.50%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Insider Buying and Selling

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $7,792,172.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America lifted their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. TD Cowen upped their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Raymond James reissued an “outperform” rating and set a $126.00 price target (up previously from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Royal Bank of Canada upped their price objective on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Twelve 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, Crown Castle currently has an average rating of “Hold” and an average price target of $113.53.

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.