Guardian Wealth Advisors LLC NC purchased a new position in shares of Crown Castle Inc. (NYSE:CCI – Get Rating) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 1,498 shares of the real estate investment trust’s stock, valued at approximately $276,000.
Several other large investors also recently added to or reduced their stakes in CCI. BlackRock Inc. lifted its holdings in Crown Castle by 15.3% during the fourth quarter. BlackRock Inc. now owns 37,010,877 shares of the real estate investment trust’s stock valued at $7,725,650,000 after purchasing an additional 4,919,828 shares during the last quarter. Norges Bank purchased a new stake in Crown Castle during the fourth quarter valued at about $815,548,000. State Street Corp lifted its holdings in Crown Castle by 6.4% during the first quarter. State Street Corp now owns 20,925,592 shares of the real estate investment trust’s stock valued at $3,862,864,000 after purchasing an additional 1,261,426 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Crown Castle by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,909,352 shares of the real estate investment trust’s stock valued at $10,505,466,000 after purchasing an additional 1,015,352 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Crown Castle by 82.8% during the first quarter. JPMorgan Chase & Co. now owns 1,463,883 shares of the real estate investment trust’s stock valued at $270,233,000 after purchasing an additional 662,907 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on CCI. Cowen dropped their price objective on shares of Crown Castle to $195.00 in a report on Friday, July 22nd. Credit Suisse Group decreased their price target on Crown Castle to $213.00 in a research report on Friday, July 22nd. StockNews.com upgraded Crown Castle from a “hold” rating to a “buy” rating in a research report on Friday, August 12th. Citigroup decreased their price target on Crown Castle from $204.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, July 11th. Finally, Morgan Stanley decreased their price target on Crown Castle from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $195.33.
Insider Buying and Selling at Crown Castle
Crown Castle Stock Up 1.3 %
Shares of NYSE CCI opened at $176.83 on Tuesday. Crown Castle Inc. has a one year low of $153.70 and a one year high of $209.87. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.69 and a quick ratio of 0.69. The firm’s 50 day simple moving average is $175.04 and its two-hundred day simple moving average is $178.21. The stock has a market capitalization of $76.57 billion, a P/E ratio of 49.67 and a beta of 0.60.
Crown Castle (NYSE:CCI – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.74). Crown Castle had a net margin of 22.91% and a return on equity of 18.93%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the business earned $1.71 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, analysts expect that Crown Castle Inc. will post 7.03 EPS for the current fiscal year.
Crown Castle Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Wednesday, September 14th. Crown Castle’s payout ratio is currently 165.17%.
Crown Castle Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.
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