Crown Castle Inc. (NYSE:CCI) Position Raised by Linscomb Wealth Inc.

Linscomb Wealth Inc. lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 54,267 shares of the real estate investment trust’s stock after acquiring an additional 566 shares during the period. Linscomb Wealth Inc.’s holdings in Crown Castle were worth $5,302,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in Crown Castle by 12.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 108 shares during the period. Gilbert & Cook Inc. boosted its position in Crown Castle by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock worth $355,000 after acquiring an additional 110 shares during the last quarter. Benedict Financial Advisors Inc. grew its stake in shares of Crown Castle by 4.0% during the 1st quarter. Benedict Financial Advisors Inc. now owns 2,947 shares of the real estate investment trust’s stock worth $312,000 after acquiring an additional 113 shares in the last quarter. HM Payson & Co. raised its holdings in shares of Crown Castle by 5.3% in the first quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 114 shares during the last quarter. Finally, OFI Invest Asset Management lifted its position in shares of Crown Castle by 41.5% in the first quarter. OFI Invest Asset Management now owns 402 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 118 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Crown Castle Price Performance

Crown Castle stock opened at $119.96 on Wednesday. The company has a market capitalization of $52.13 billion, a price-to-earnings ratio of 37.49 and a beta of 0.85. The stock’s 50 day moving average is $108.39 and its 200-day moving average is $103.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $120.11.

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 for the quarter, topping the consensus estimate of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the business earned $2.05 EPS. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. Equities research analysts expect that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Analyst Ratings Changes

Several brokerages have commented on CCI. Royal Bank of Canada boosted their price target on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Raymond James reissued an “outperform” rating and set a $126.00 price target (up from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. The Goldman Sachs Group initiated coverage on Crown Castle in a research report on Monday, July 1st. They set a “neutral” rating and a $104.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Finally, TD Cowen upped their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Crown Castle currently has a consensus 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.