Gray Wealth Management Inc. Grows Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Gray Wealth Management Inc. grew its stake in Crown Castle Inc. (NYSE:CCI) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,379 shares of the real estate investment trust’s stock after purchasing an additional 127 shares during the period. Gray Wealth Management Inc.’s holdings in Crown Castle were worth $504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CCI. Magnolia Capital Advisors LLC lifted its stake in shares of Crown Castle by 3.2% in the fourth quarter. Magnolia Capital Advisors LLC now owns 2,375 shares of the real estate investment trust’s stock valued at $322,000 after purchasing an additional 73 shares during the period. Summit Financial Group Inc. lifted its position in shares of Crown Castle by 5.5% during the 3rd quarter. Summit Financial Group Inc. now owns 1,638 shares of the real estate investment trust’s stock valued at $237,000 after acquiring an additional 85 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of Crown Castle by 2.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,678 shares of the real estate investment trust’s stock worth $679,000 after acquiring an additional 86 shares in the last quarter. Townsend & Associates Inc grew its holdings in shares of Crown Castle by 5.7% in the 4th quarter. Townsend & Associates Inc now owns 1,682 shares of the real estate investment trust’s stock worth $238,000 after acquiring an additional 90 shares during the period. Finally, Dakota Community Bank & Trust NA increased its stake in Crown Castle by 4.2% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock valued at $204,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Up 1.4 %

Shares of Crown Castle stock traded up $1.32 during trading hours on Thursday, hitting $94.37. The company’s stock had a trading volume of 4,937,712 shares, compared to its average volume of 2,808,958. The business has a fifty day moving average of $105.41 and a 200 day moving average of $105.15. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $134.09. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. The company has a market capitalization of $41.01 billion, a PE ratio of 26.74, a P/E/G ratio of 2.50 and a beta of 0.73.

Crown Castle (NYSE:CCI) last announced 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). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a net margin of 21.47% and a return on equity of 21.95%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.91 earnings per share. As a group, equities analysts forecast that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.63%. Crown Castle’s payout ratio is currently 180.92%.

Analysts Set New Price Targets

CCI has been the subject of a number of research reports. BMO Capital Markets cut 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 report on Thursday. Scotiabank dropped their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research report on Thursday. Royal Bank of Canada upped their price objective on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. Finally, Jefferies Financial Group dropped their price objective on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Crown Castle presently has a consensus rating of “Hold” and a consensus price target of $119.40.

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.