Disciplined Equity Management Inc. Trims Holdings in Crown Castle Inc. (NYSE:CCI)

Disciplined Equity Management Inc. decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,160 shares of the real estate investment trust’s stock after selling 940 shares during the period. Crown Castle comprises approximately 1.3% of Disciplined Equity Management Inc.’s holdings, making the stock its 11th largest holding. Disciplined Equity Management Inc.’s holdings in Crown Castle were worth $2,036,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake 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 period. Wellington Management Group LLP increased its stake 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 period. Legal & General Group Plc increased its stake in shares of Crown Castle by 1.1% during the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after buying an additional 67,072 shares during the period. National Bank of Canada FI increased its stake in shares of Crown Castle by 10.7% during the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after buying an additional 391,127 shares during the period. Finally, ClearBridge Investments Ltd increased its stake in shares of Crown Castle by 19.4% during the first quarter. ClearBridge Investments Ltd now owns 2,632,855 shares of the real estate investment trust’s stock valued at $278,635,000 after buying an additional 428,597 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America raised their price target on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Barclays raised their price objective on Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday. TD Cowen raised their price objective on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Royal Bank of Canada raised 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. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $115.67.

Insider Activity

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value of $1,128,784.76. Following the completion of the sale, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.39% of the company’s stock.

Crown Castle Stock Up 0.8 %

Shares of CCI stock opened at $110.81 on Monday. The stock has a 50 day moving average of $113.84 and a 200 day moving average of $104.82. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. The stock has a market cap of $48.15 billion, a P/E ratio of 40.59 and a beta of 0.85. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $120.92.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 19.20% and a net margin of 17.98%. Crown Castle’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period last year, the business earned $2.05 earnings per share. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is presently 229.30%.

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.