MBM Wealth Consultants LLC Takes Position in Crown Castle Inc. (NYSE:CCI)

MBM Wealth Consultants LLC acquired a new stake in Crown Castle Inc. (NYSE:CCIGet Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 500 shares of the real estate investment trust’s stock, valued at approximately $92,000.

Several other large investors also recently made changes to their positions in CCI. North Star Investment Management Corp. acquired a new stake in shares of Crown Castle in the 1st quarter valued at approximately $25,000. Rational Advisors LLC raised its stake in Crown Castle by 139.6% in the 4th quarter. Rational Advisors LLC now owns 127 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 74 shares during the period. IAG Wealth Partners LLC raised its stake in Crown Castle by 277.8% in the 4th quarter. IAG Wealth Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 100 shares during the period. HHM Wealth Advisors LLC bought a new stake in Crown Castle in the 1st quarter valued at $28,000. Finally, Blume Capital Management Inc. bought a new stake in Crown Castle in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity

In other news, Director Kevin A. Stephens purchased 699 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were purchased at an average cost of $173.60 per share, with a total value of $121,346.40. Following the completion of the purchase, the director now owns 10,703 shares of the company’s stock, valued at approximately $1,858,040.80. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of research analyst reports. Citigroup dropped their price target on Crown Castle from $204.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, July 11th. Morgan Stanley dropped their price target on Crown Castle from $200.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Cowen lowered their price objective on Crown Castle to $195.00 in a research report on Friday, July 22nd. The Goldman Sachs Group decreased their price target on Crown Castle from $189.00 to $166.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 12th. Finally, Barclays decreased their price target on Crown Castle from $214.00 to $212.00 and set an “overweight” rating on the stock in a research report on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.33.

Crown Castle Stock Performance

NYSE:CCI opened at $174.55 on Friday. The stock’s 50-day simple moving average is $175.04 and its 200 day simple moving average is $178.12. The firm has a market capitalization of $75.59 billion, a PE ratio of 49.03 and a beta of 0.60. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.70. Crown Castle Inc. has a twelve month low of $153.70 and a twelve month high of $209.87.

Crown Castle (NYSE:CCIGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.74). The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.71 billion. Crown Castle had a net margin of 22.91% and a return on equity of 18.93%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business earned $1.71 earnings per share. On average, analysts anticipate that Crown Castle Inc. will post 7.03 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.37%. The ex-dividend date is Wednesday, September 14th. Crown Castle’s dividend payout ratio (DPR) is presently 165.17%.

Crown Castle Company Profile

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

See Also

Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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