Cypress Asset Management Inc. TX Acquires Shares of 8,780 Crown Castle Inc. (NYSE:CCI)

Cypress Asset Management Inc. TX acquired a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,780 shares of the real estate investment trust’s stock, valued at approximately $1,011,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TCW Group Inc. raised its stake in shares of Crown Castle by 21.4% during the 4th quarter. TCW Group Inc. now owns 38,863 shares of the real estate investment trust’s stock worth $4,483,000 after buying an additional 6,843 shares in the last quarter. SageView Advisory Group LLC raised its stake in shares of Crown Castle by 65.4% during the 4th quarter. SageView Advisory Group LLC now owns 5,665 shares of the real estate investment trust’s stock worth $612,000 after buying an additional 2,240 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Crown Castle by 20.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,433 shares of the real estate investment trust’s stock worth $7,998,000 after buying an additional 11,992 shares in the last quarter. Allstate Corp purchased a new position in shares of Crown Castle during the 4th quarter worth approximately $209,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Crown Castle during the 4th quarter worth approximately $1,308,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

NYSE:CCI traded down $1.21 during trading hours on Thursday, reaching $99.01. 1,997,661 shares of the company traded hands, compared to its average volume of 2,870,029. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $119.50. The firm’s 50-day moving average is $99.71 and its 200-day moving average is $106.25. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market cap of $43.02 billion, a P/E ratio of 31.10, a P/E/G ratio of 2.69 and a beta of 0.76.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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 return on equity of 21.30% and a net margin of 20.32%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business earned $1.91 EPS. Crown Castle’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities research analysts expect that Crown Castle Inc. will post 6.58 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.32%. The ex-dividend date is Friday, June 14th. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Analyst Upgrades and Downgrades

CCI has been the subject of a number of analyst reports. Argus downgraded Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. 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 note on Thursday, April 18th. Bank of America dropped their price objective on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Royal Bank of Canada dropped their price objective on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $112.64.

About Crown Castle

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.