CNB Bank Trims Stock Holdings in Crown Castle Inc. (NYSE:CCI)

CNB Bank decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,337 shares of the real estate investment trust’s stock after selling 485 shares during the period. CNB Bank’s holdings in Crown Castle were worth $1,421,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Cooke & Bieler LP purchased a new position in shares of Crown Castle in the fourth quarter worth about $120,236,000. J.W. Cole Advisors Inc. increased its stake in shares of Crown Castle by 5.7% in the fourth quarter. J.W. Cole Advisors Inc. now owns 3,718 shares of the real estate investment trust’s stock worth $428,000 after purchasing an additional 201 shares in the last quarter. Western Wealth Management LLC purchased a new position in shares of Crown Castle in the fourth quarter worth about $201,000. Gray Wealth Management Inc. increased its stake in shares of Crown Castle by 3.0% in the fourth quarter. Gray Wealth Management Inc. now owns 4,379 shares of the real estate investment trust’s stock worth $504,000 after purchasing an additional 127 shares in the last quarter. Finally, CapWealth Advisors LLC increased its stake in shares of Crown Castle by 2.1% in the fourth quarter. CapWealth Advisors LLC now owns 37,210 shares of the real estate investment trust’s stock worth $4,286,000 after purchasing an additional 764 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the subject of several recent research reports. BMO Capital Markets reduced their target price on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday. Bank of America cut their price objective on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday. Scotiabank cut their price objective on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research report on Thursday. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Royal Bank of Canada raised their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $117.73.

Crown Castle Trading Up 0.9 %

Shares of CCI opened at $95.20 on Friday. The firm has a market cap of $41.37 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.54 and a beta of 0.73. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $131.43. The firm has a 50 day moving average price of $104.88 and a 200-day moving average price of $105.22.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data 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). The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.91 earnings per share. As a group, equities research analysts forecast that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm 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 was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.58%. Crown Castle’s payout ratio is 195.63%.

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.