MADDEN SECURITIES Corp Increases Position in Crown Castle Inc. (NYSE:CCI)

MADDEN SECURITIES Corp increased its position in Crown Castle Inc. (NYSE:CCI) by 12.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,952 shares of the real estate investment trust’s stock after acquiring an additional 1,345 shares during the period. MADDEN SECURITIES Corp’s holdings in Crown Castle were worth $1,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Crown Castle in the fourth quarter worth about $25,000. Rational Advisors LLC purchased a new position in Crown Castle during the 1st quarter worth approximately $27,000. EntryPoint Capital LLC acquired a new stake in Crown Castle during the 1st quarter valued at approximately $27,000. Richardson Financial Services Inc. acquired a new stake in shares of Crown Castle in the fourth quarter worth $30,000. Finally, Gables Capital Management Inc. increased its stake in shares of Crown Castle by 164.0% in the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 164 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.39% of the stock is owned by insiders.

Crown Castle Price Performance

Shares of Crown Castle stock traded down $0.36 during mid-day trading on Thursday, reaching $110.91. 2,215,198 shares of the stock traded hands, compared to its average volume of 2,452,028. The stock has a market capitalization of $48.20 billion, a PE ratio of 34.66 and a beta of 0.83. The business has a 50-day moving average of $102.11 and a 200 day moving average of $102.89. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $119.50. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04.

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 for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the firm posted $2.05 EPS. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. On average, analysts predict that Crown Castle Inc. will post 6.63 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.64%. Crown Castle’s dividend payout ratio is presently 195.63%.

Analyst Ratings Changes

CCI has been the topic of several recent research reports. Scotiabank lowered their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Wells Fargo & Company dropped their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Jefferies Financial Group decreased their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, April 18th. The Goldman Sachs Group assumed coverage on shares of Crown Castle in a research note on Monday, July 1st. They set a “neutral” rating and a $104.00 price objective on the stock. Finally, Royal Bank of Canada boosted their target price on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $113.20.

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.