Janus Henderson Group PLC Decreases Stake in Crown Castle Inc. (NYSE:CCI)

Janus Henderson Group PLC cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 39.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 285,851 shares of the real estate investment trust’s stock after selling 185,310 shares during the quarter. Janus Henderson Group PLC’s holdings in Crown Castle were worth $30,233,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Crown Castle during the 4th quarter valued at approximately $25,000. Rational Advisors LLC purchased a new stake in shares of Crown Castle during the first quarter worth $27,000. EntryPoint Capital LLC bought a new position in shares of Crown Castle in the first quarter worth $27,000. Gables Capital Management Inc. raised its stake in shares of Crown Castle by 164.0% during the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 164 shares during the period. Finally, Richardson Financial Services Inc. bought a new position in Crown Castle in the 4th quarter worth about $30,000. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $7,792,172.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America boosted their price objective on shares of Crown Castle from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. BMO Capital Markets lifted their price objective on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. TD Cowen upped their target price on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group dropped their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $114.88.

Crown Castle Trading Up 0.5 %

CCI stock traded up $0.53 during trading on Wednesday, reaching $109.95. The company had a trading volume of 316,380 shares, compared to its average volume of 2,746,394. The business has a 50 day moving average of $100.25 and a 200 day moving average of $102.68. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.42. The company has a market cap of $47.78 billion, a P/E ratio of 34.19 and a beta of 0.83. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $119.50.

Crown Castle (NYSE:CCI) last announced its earnings results 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. 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 during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The business’s revenue was down 12.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Crown Castle Inc. will post 6.63 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s dividend payout ratio is presently 195.63%.

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.