Federated Hermes Inc. Lowers Stake in Crown Castle Inc. (NYSE:CCI)

Federated Hermes Inc. lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 46.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 669,810 shares of the real estate investment trust’s stock after selling 581,413 shares during the period. Federated Hermes Inc. owned about 0.15% of Crown Castle worth $77,155,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. United Services Automobile Association increased its position in shares of Crown Castle by 23.1% in the third quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock valued at $1,234,000 after buying an additional 2,516 shares in the last quarter. Court Place Advisors LLC acquired a new stake in Crown Castle in the 4th quarter valued at $201,000. Van ECK Associates Corp grew its stake in Crown Castle by 0.5% in the 3rd quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock valued at $10,852,000 after acquiring an additional 542 shares during the period. International Assets Investment Management LLC increased its holdings in Crown Castle by 8,611.0% in the 4th quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock worth $81,006,000 after acquiring an additional 695,163 shares in the last quarter. Finally, Manning & Napier Group LLC acquired a new position in Crown Castle during the fourth quarter worth $5,005,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 1.4 %

Shares of CCI stock opened at $94.37 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $134.09. The company’s 50-day moving average price is $105.15 and its 200-day moving average price is $105.07. The stock has a market cap of $41.01 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 2.48 and a beta of 0.73.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 20.78%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.91 earnings per share. As a group, equities analysts predict that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Jefferies Financial Group dropped their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank decreased their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday. 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 research note on Wednesday, February 21st. Finally, Bank of America lowered their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Crown Castle currently has an average rating of “Hold” and a consensus price target of $118.73.

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.