Crown Castle Inc. (NYSE:CCI) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,954 shares of the real estate investment trust’s stock after selling 1,210 shares during the period. Cornerstone Capital Inc.’s holdings in Crown Castle were worth $9,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Operose Advisors LLC acquired a new stake in Crown Castle during the third quarter worth about $30,000. Valley National Advisers Inc. grew 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 valued at $33,000 after purchasing an additional 97 shares during the period. HHM Wealth Advisors LLC grew its holdings in Crown Castle by 154.8% in the third quarter. HHM Wealth Advisors LLC now owns 395 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 240 shares during the period. Rosenberg Matthew Hamilton grew its holdings in Crown Castle by 43.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 113 shares during the period. Finally, Larson Financial Group LLC grew its holdings in Crown Castle by 123.3% in the third quarter. Larson Financial Group LLC now owns 480 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 265 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on CCI. Barclays raised their price objective on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Wells Fargo & Company dropped their price objective on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Scotiabank dropped their price objective on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Finally, BMO Capital Markets dropped their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Eleven equities research 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 presently has a consensus rating of “Hold” and an average price target of $113.29.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $93.58 on Friday. Crown Castle Inc. has a one year low of $84.72 and a one year high of $123.79. The company has a market cap of $40.66 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 2.49 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. The business’s 50 day moving average price is $103.65 and its 200 day moving average price is $105.34.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company 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 posted $1.91 EPS. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, research analysts predict that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.69%. Crown Castle’s payout ratio is 195.63%.

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.