Signaturefd LLC Buys 1,722 Shares of Crown Castle Inc. (NYSE:CCI)

Signaturefd LLC grew its stake in Crown Castle Inc. (NYSE:CCI) by 12.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,567 shares of the real estate investment trust’s stock after acquiring an additional 1,722 shares during the quarter. Signaturefd LLC’s holdings in Crown Castle were worth $1,793,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Riverview Trust Co boosted its holdings in Crown Castle by 108.5% in the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Almanack Investment Partners LLC. bought a new stake in Crown Castle in the third quarter worth $28,000. PCA Investment Advisory Services Inc. bought a new stake in Crown Castle in the second quarter worth $29,000. Operose Advisors LLC bought a new stake in Crown Castle in the third quarter worth $30,000. Finally, Valley National Advisers Inc. boosted its holdings in Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 97 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Performance

NYSE:CCI traded up $0.83 during mid-day trading on Friday, hitting $95.20. 5,055,709 shares of the company traded hands, compared to its average volume of 2,662,430. The stock’s fifty day moving average price is $104.88 and its 200-day moving average price is $105.22. Crown Castle Inc. has a one year low of $84.72 and a one year high of $131.43. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The firm has a market cap of $41.37 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 2.54 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 (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 for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm posted $1.91 EPS. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. Research analysts anticipate that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.58%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio is presently 195.63%.

Wall Street Analyst Weigh In

CCI has been the subject of several recent analyst reports. Bank of America decreased their price target on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday. Wells Fargo & Company decreased their price target on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday. BMO Capital Markets decreased their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday. Scotiabank decreased their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, 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 note on Thursday. 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, Crown Castle has an average rating of “Hold” and a consensus target price of $117.73.

Crown Castle 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.