Crown Castle Inc. (NYSE:CCI) Shares Acquired by MCF Advisors LLC

MCF Advisors LLC boosted its stake in Crown Castle Inc. (NYSE:CCI) by 45.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,187 shares of the real estate investment trust’s stock after purchasing an additional 1,928 shares during the period. MCF Advisors LLC’s holdings in Crown Castle were worth $655,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. United Services Automobile Association raised its holdings in shares of Crown Castle by 23.1% during the 3rd quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock valued at $1,234,000 after buying an additional 2,516 shares during the period. Fisher Asset Management LLC lifted its position in shares of Crown Castle by 16.2% during the fourth quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock worth $523,773,000 after purchasing an additional 632,398 shares in the last quarter. Court Place Advisors LLC purchased a new position in shares of Crown Castle in the fourth quarter valued at $201,000. Global Assets Advisory LLC acquired a new stake in Crown Castle during the 1st quarter valued at $4,425,000. Finally, International Assets Investment Management LLC increased its stake in Crown Castle by 8,611.0% during the 4th quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock worth $81,006,000 after buying an additional 695,163 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Up 0.3 %

CCI traded up $0.31 during trading on Friday, reaching $97.70. The company had a trading volume of 9,395,095 shares, compared to its average volume of 2,492,467. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $119.50. The company has a market cap of $42.45 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.58 and a beta of 0.82. The firm’s 50-day simple moving average is $98.42 and its 200 day simple moving average is $104.74.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.91 EPS. Equities research analysts anticipate that Crown Castle Inc. will post 6.62 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date was Friday, June 14th. Crown Castle’s dividend payout ratio is 195.63%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CCI. Wells Fargo & Company lowered their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Raymond James reiterated an “outperform” rating and set a $126.00 target price (up from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Argus downgraded shares of Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, BMO Capital Markets lowered their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $114.21.

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.