Massmutual Trust Co. FSB ADV Lowers Stake in Crown Castle Inc. (NYSE:CCI)

Massmutual Trust Co. FSB ADV reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 2.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 58,929 shares of the real estate investment trust’s stock after selling 1,276 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Crown Castle were worth $5,757,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Crown Castle by 32.2% in the second quarter. GAMMA Investing LLC now owns 3,519 shares of the real estate investment trust’s stock valued at $344,000 after purchasing an additional 858 shares during the period. Bright Futures Wealth Management LLC. purchased a new stake in shares of Crown Castle during the first quarter worth about $228,000. Cape Investment Advisory Inc. grew its holdings in shares of Crown Castle by 33.9% during the first quarter. Cape Investment Advisory Inc. now owns 691 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 175 shares in the last quarter. HM Payson & Co. grew its holdings in shares of Crown Castle by 5.3% during the first quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 114 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC grew its holdings in shares of Crown Castle by 3.5% during the first quarter. Lasalle Investment Management Securities LLC now owns 115,747 shares of the real estate investment trust’s stock worth $12,250,000 after buying an additional 3,923 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price target on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Jefferies Financial Group lowered their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Bank of America lifted their price target on shares of Crown Castle from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Finally, BMO Capital Markets lifted their price target on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $113.20.

Insiders Place Their Bets

In other Crown Castle 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 in the company, valued at $7,792,172.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.39% of the company’s stock.

Crown Castle Stock Performance

Shares of Crown Castle stock traded down $4.39 during midday trading on Monday, hitting $110.82. The company had a trading volume of 3,694,841 shares, compared to its average volume of 2,763,864. The business’s 50 day simple moving average is $101.05 and its two-hundred day simple moving average is $102.72. The stock has a market cap of $48.16 billion, a PE ratio of 35.53 and a beta of 0.83. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.42. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $119.50.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. Crown Castle’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter last year, the company posted $2.05 earnings per share. As a group, equities analysts predict that Crown Castle Inc. will post 6.63 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid 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 yield of 5.65%. Crown Castle’s dividend payout ratio is currently 195.63%.

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.