Lockheed Martin Investment Management Co. Has $13.73 Million Stake in Crown Castle Inc. (NYSE:CCI)

Lockheed Martin Investment Management Co. decreased its position in Crown Castle Inc. (NYSE:CCIGet Rating) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 81,535 shares of the real estate investment trust’s stock after selling 1,722 shares during the period. Crown Castle makes up 0.9% of Lockheed Martin Investment Management Co.’s investment portfolio, making the stock its 27th biggest holding. Lockheed Martin Investment Management Co.’s holdings in Crown Castle were worth $13,728,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. RMB Capital Management LLC lifted its stake in Crown Castle by 1.6% during the second quarter. RMB Capital Management LLC now owns 3,478 shares of the real estate investment trust’s stock worth $586,000 after purchasing an additional 56 shares during the last quarter. Savant Capital LLC lifted its stake in Crown Castle by 4.0% during the second quarter. Savant Capital LLC now owns 1,542 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 59 shares during the last quarter. Avantax Planning Partners Inc. lifted its stake in Crown Castle by 2.7% during the first quarter. Avantax Planning Partners Inc. now owns 2,362 shares of the real estate investment trust’s stock worth $436,000 after purchasing an additional 61 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in Crown Castle by 5.9% during the second quarter. GHP Investment Advisors Inc. now owns 1,112 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 62 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its holdings in shares of Crown Castle by 5.3% during the second quarter. Financial Management Professionals Inc. now owns 1,279 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Up 0.7 %

CCI traded up $1.01 during trading on Thursday, reaching $140.12. 1,273,320 shares of the stock traded hands, compared to its average volume of 2,505,599. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 2.69. The stock has a market capitalization of $60.68 billion, a PE ratio of 37.67 and a beta of 0.60. The stock’s 50-day moving average is $138.50 and its 200 day moving average is $162.36. Crown Castle Inc. has a 12 month low of $121.71 and a 12 month high of $209.87.

Crown Castle (NYSE:CCIGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The real estate investment trust reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Crown Castle had a net margin of 23.47% and a return on equity of 20.28%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.77 earnings per share. Equities analysts anticipate that Crown Castle Inc. will post 7.03 earnings per share for the current year.

Crown Castle Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Wednesday, December 14th. This is a boost from Crown Castle’s previous quarterly dividend of $1.47. Crown Castle’s dividend payout ratio is 158.06%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Cowen lowered their price target on shares of Crown Castle from $195.00 to $149.00 and set an “outperform” rating for the company in a report on Friday, October 21st. StockNews.com assumed coverage on shares of Crown Castle in a report on Wednesday, October 12th. They set a “hold” rating for the company. Raymond James upped their price target on shares of Crown Castle from $143.00 to $153.00 and gave the stock a “market outperform” rating in a report on Wednesday. Royal Bank of Canada lowered their price target on shares of Crown Castle from $202.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Finally, Credit Suisse Group decreased their price objective on Crown Castle from $213.00 to $162.00 and set an “outperform” rating for the company in a report on Friday, October 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.93.

Insider Transactions at Crown Castle

In related news, Director Kevin A. Stephens acquired 2,000 shares of the business’s stock in a transaction dated Monday, October 24th. The shares were bought at an average price of $123.50 per share, with a total value of $247,000.00. Following the transaction, the director now directly owns 12,703 shares of the company’s stock, valued at $1,568,820.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Crown Castle news, Director Kevin A. Stephens purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The shares were acquired at an average price of $123.50 per share, with a total value of $247,000.00. Following the transaction, the director now owns 12,703 shares in the company, valued at $1,568,820.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Thornton III purchased 1,215 shares of the company’s stock in a transaction that occurred on Friday, October 21st. The stock was acquired at an average cost of $123.78 per share, for a total transaction of $150,392.70. Following the transaction, the director now owns 5,761 shares in the company, valued at approximately $713,096.58. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.

Crown Castle 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.

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

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