Crown Castle Inc. (NYSE:CCI) Director Jason Genrich Buys 99 Shares

Crown Castle Inc. (NYSE:CCI) Director Jason Genrich purchased 99 shares of Crown Castle stock in a transaction dated Thursday, January 18th. The stock was bought at an average cost of $109.32 per share, for a total transaction of $10,822.68. Following the completion of the purchase, the director now directly owns 3,023 shares in the company, valued at approximately $330,474.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Jason Genrich also recently made the following trade(s):

• On Tuesday, April 2nd, Jason Genrich bought 18 shares of Crown Castle stock. The stock was purchased at an average cost of $103.17 per share, for a total transaction of $1,857.06.

Crown Castle Price Performance

NYSE CCI opened at $97.31 on Thursday. The company has a 50-day moving average price of $101.99 and a two-hundred day moving average price of $105.63. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $119.60. The stock has a market cap of $42.28 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 2.59 and a beta of 0.76. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the business earned $1.91 earnings per share. The company’s revenue was down 7.4% on a year-over-year basis. Analysts forecast that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s payout ratio is 195.63%.

Institutional Investors Weigh In On Crown Castle

A number of institutional investors and hedge funds have recently modified their holdings of CCI. State Board of Administration of Florida Retirement System lifted its holdings in shares of Crown Castle by 3.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 474,904 shares of the real estate investment trust’s stock valued at $50,259,000 after purchasing an additional 17,046 shares during the last quarter. Entropy Technologies LP purchased a new stake in Crown Castle during the first quarter valued at about $1,222,000. Motley Fool Asset Management LLC increased its position in shares of Crown Castle by 25.7% in the first quarter. Motley Fool Asset Management LLC now owns 15,012 shares of the real estate investment trust’s stock worth $1,589,000 after acquiring an additional 3,069 shares in the last quarter. Sheets Smith Wealth Management boosted its stake in Crown Castle by 6.0% in the 1st quarter. Sheets Smith Wealth Management now owns 6,120 shares of the real estate investment trust’s stock worth $648,000 after purchasing an additional 345 shares during the period. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Crown Castle by 3.5% in the first quarter. Avantax Advisory Services Inc. now owns 21,226 shares of the real estate investment trust’s stock valued at $2,246,000 after purchasing an additional 727 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CCI. Argus cut Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Wells Fargo & Company reduced their price target on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. Barclays lifted their price objective on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Jefferies Financial Group reduced their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $112.64.

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.