Loudon Investment Management LLC Buys 393 Shares of Crown Castle Inc. (NYSE:CCI)

Loudon Investment Management LLC boosted its stake in Crown Castle Inc. (NYSE:CCI) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,772 shares of the real estate investment trust’s stock after purchasing an additional 393 shares during the quarter. Loudon Investment Management LLC’s holdings in Crown Castle were worth $1,248,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CCI. Norges Bank acquired a new stake in Crown Castle in the 4th quarter valued at $581,503,000. M&G Plc bought a new stake in shares of Crown Castle during the first quarter worth about $221,573,000. Mizuho Markets Americas LLC acquired a new stake in shares of Crown Castle in the 4th quarter worth about $201,582,000. Balyasny Asset Management L.P. lifted its position in Crown Castle by 18,200.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,651,456 shares of the real estate investment trust’s stock valued at $190,231,000 after acquiring an additional 1,642,432 shares in the last quarter. Finally, Cooke & Bieler LP boosted its stake in Crown Castle by 95.8% during the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after purchasing an additional 1,261,536 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of NYSE CCI traded up $2.25 during trading on Friday, reaching $116.12. 3,016,398 shares of the stock traded hands, compared to its average volume of 2,659,891. The company has a 50-day moving average of $107.47 and a 200-day moving average of $103.44. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50. The stock has a market capitalization of $50.46 billion, a P/E ratio of 36.29 and a beta of 0.85. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter last year, the business earned $2.05 earnings per share. Analysts forecast that Crown Castle Inc. will post 6.64 EPS for the current fiscal 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 $1.565 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.39%. Crown Castle’s dividend payout ratio is 195.63%.

Insider Transactions at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CCI shares. The Goldman Sachs Group began coverage on Crown Castle in a research note on Monday, July 1st. They issued a “neutral” rating and a $104.00 price objective for the company. BMO Capital Markets raised 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. Raymond James reiterated an “outperform” rating and issued a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Finally, Bank of America lifted their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and a consensus price target of $113.53.

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.