McGlone Suttner Wealth Management Inc. Has $290,000 Stock Holdings in Crown Castle Inc. (NYSE:CCI)

McGlone Suttner Wealth Management Inc. raised its position in Crown Castle Inc. (NYSE:CCI) by 27.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,445 shares of the real estate investment trust’s stock after purchasing an additional 531 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Crown Castle were worth $290,000 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 added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its holdings in shares of 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 in the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of 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 in the last quarter. Prosperity Consulting Group LLC grew its holdings in shares of 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 in the last quarter. True North Advisors LLC grew its holdings in shares of 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 in the last quarter. Finally, Granite Investment Partners LLC grew its holdings in shares of 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 in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CCI shares. BMO Capital Markets increased their target price on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. The Goldman Sachs Group raised their price objective on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Bank of America raised their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. 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 note on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $115.67.

Crown Castle Price Performance

Shares of CCI opened at $110.81 on Monday. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $120.92. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $48.15 billion, a price-to-earnings ratio of 40.59 and a beta of 0.85. The business has a 50-day moving average of $113.84 and a 200-day moving average of $104.82.

Crown Castle (NYSE:CCI) last issued 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 return on equity of 19.20% and a net margin of 17.98%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the company earned $2.05 earnings per share. The firm’s revenue was down 12.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Dividend Announcement

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

Insider Transactions at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle 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 approximately $7,792,172.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is 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.