Enterprise Bank & Trust Co lowered its stake in shares of Crown Castle Inc. (NYSE:CCI – Get Rating) by 60.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,071 shares of the real estate investment trust’s stock after selling 6,116 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Crown Castle were worth $552,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of CCI. Accurate Wealth Management LLC increased its position in shares of Crown Castle by 28.3% in the 4th quarter. Accurate Wealth Management LLC now owns 2,428 shares of the real estate investment trust’s stock valued at $357,000 after acquiring an additional 536 shares during the period. Foundations Investment Advisors LLC purchased a new position in Crown Castle during the 4th quarter worth approximately $258,000. Glassy Mountain Advisors Inc. acquired a new stake in Crown Castle during the 4th quarter valued at approximately $1,313,000. Phocas Financial Corp. boosted its holdings in shares of Crown Castle by 2.4% in the 4th quarter. Phocas Financial Corp. now owns 11,027 shares of the real estate investment trust’s stock valued at $1,496,000 after acquiring an additional 260 shares during the last quarter. Finally, MCIA Inc boosted its holdings in shares of Crown Castle by 45.2% in the 4th quarter. MCIA Inc now owns 15,713 shares of the real estate investment trust’s stock valued at $2,311,000 after acquiring an additional 4,891 shares during the last quarter. 90.27% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Truist Financial decreased their target price on shares of Crown Castle from $230.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, January 13th. Raymond James upped their target price on Crown Castle from $153.00 to $154.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Royal Bank of Canada lifted their price target on Crown Castle from $150.00 to $162.00 and gave the company an “outperform” rating in a research report on Tuesday, January 31st. Cowen boosted their price target on Crown Castle from $149.00 to $152.00 and gave the company an “outperform” rating in a report on Friday, January 27th. Finally, Barclays raised their price objective on shares of Crown Castle from $152.00 to $153.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $159.36.
Crown Castle Price Performance
Crown Castle (NYSE:CCI – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The real estate investment trust reported $0.95 EPS for the quarter, missing the consensus estimate of $1.78 by ($0.83). Crown Castle had a return on equity of 21.58% and a net margin of 23.96%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the firm posted $1.77 earnings per share. Crown Castle’s quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts expect that Crown Castle Inc. will post 7.26 earnings per share for the current year.
Crown Castle Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend is Tuesday, March 14th. Crown Castle’s dividend payout ratio is currently 162.18%.
Crown Castle Company Profile
Crown Castle, Inc is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the Towers and Fiber segments. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.
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