CapWealth Advisors LLC Acquires 764 Shares of Crown Castle Inc. (NYSE:CCI)

CapWealth Advisors LLC lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,210 shares of the real estate investment trust’s stock after purchasing an additional 764 shares during the period. CapWealth Advisors LLC’s holdings in Crown Castle were worth $4,286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Waterfront Wealth Inc. raised its stake in Crown Castle by 1.9% during the 4th quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock worth $635,000 after buying an additional 101 shares during the period. Court Place Advisors LLC acquired a new position in Crown Castle during the 4th quarter worth approximately $201,000. Daiwa Securities Group Inc. raised its stake in Crown Castle by 13.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 56,815 shares of the real estate investment trust’s stock worth $6,545,000 after buying an additional 6,917 shares during the period. Avior Wealth Management LLC raised its stake in Crown Castle by 1,014.1% during the 4th quarter. Avior Wealth Management LLC now owns 5,615 shares of the real estate investment trust’s stock worth $647,000 after buying an additional 5,111 shares during the period. Finally, St. James Investment Company LLC raised its stake in shares of Crown Castle by 10.5% in the fourth quarter. St. James Investment Company LLC now owns 150,207 shares of the real estate investment trust’s stock worth $17,302,000 after purchasing an additional 14,294 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CCI. 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 research report on Thursday. BMO Capital Markets reduced their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a report on Thursday. Royal Bank of Canada increased their price objective on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a report on Wednesday, February 21st. Finally, Scotiabank reduced their price objective on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.40.

Crown Castle Price Performance

Shares of CCI stock traded down $0.03 on Thursday, reaching $93.02. The company’s stock had a trading volume of 1,816,113 shares, compared to its average volume of 2,766,189. The stock’s 50 day simple moving average is $105.41 and its 200-day simple moving average is $105.15. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $134.09. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. The company has a market capitalization of $40.42 billion, a P/E ratio of 26.74, a PEG ratio of 2.50 and a beta of 0.73.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 21.47% and a return on equity of 21.95%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the business earned $1.91 EPS. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. As a group, equities analysts predict that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.73%. Crown Castle’s dividend payout ratio is currently 180.92%.

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.