Redwood Investment Management LLC Acquires 476 Shares of Crown Castle Inc. (NYSE:CCI)

Redwood Investment Management LLC lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,898 shares of the real estate investment trust’s stock after purchasing an additional 476 shares during the period. Redwood Investment Management LLC’s holdings in Crown Castle were worth $1,624,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Accurate Wealth Management LLC grew its position in shares of Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 124 shares during the period. Exchange Traded Concepts LLC boosted its stake in Crown Castle by 12.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 126 shares in the last quarter. IFP Advisors Inc grew its holdings in Crown Castle by 5.9% in the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 133 shares during the period. Howard Capital Management Inc. increased its stake in Crown Castle by 1.2% in the fourth quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 135 shares in the last quarter. Finally, Cidel Asset Management Inc. raised its holdings in shares of Crown Castle by 6.4% during the fourth quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock valued at $207,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Transactions at Crown Castle

In related news, CEO Daniel K. Schlanger sold 20,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $106.38, for a total value of $2,127,600.00. Following the completion of the sale, the chief executive officer now directly owns 110,571 shares of the company’s stock, valued at approximately $11,762,542.98. This represents a 15.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert Sean Collins sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $106.72, for a total transaction of $384,192.00. Following the sale, the vice president now owns 6,465 shares in the company, valued at approximately $689,944.80. The trade was a 35.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,600 shares of company stock worth $3,362,752 in the last quarter. Company insiders own 0.10% of the company’s stock.

Crown Castle Trading Up 2.5%

Crown Castle stock opened at $100.71 on Friday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The business’s fifty day simple moving average is $101.69 and its two-hundred day simple moving average is $97.66. The company has a market capitalization of $43.85 billion, a price-to-earnings ratio of 35.71 and a beta of 0.93. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.62). The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 EPS. As a group, equities analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently -58.18%.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of research analyst reports. Argus raised Crown Castle to a “hold” rating in a research report on Friday, March 21st. UBS Group raised shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Friday, March 14th. Citigroup raised their price objective on Crown Castle from $108.00 to $124.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $128.00 to $122.00 in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.41.

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.