Crown Castle Inc. (NYSE:CCI) Holdings Trimmed by FourThought Financial LLC

FourThought Financial LLC lessened its holdings in Crown Castle Inc. (NYSE:CCI – Get Rating) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,105 shares of the real estate investment trust’s stock after selling 516 shares during the period. FourThought Financial LLC’s holdings in Crown Castle were worth $1,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CCI. Johnson Financial Group Inc. lifted its position in shares of Crown Castle by 210.8% in the second quarter. Johnson Financial Group Inc. now owns 230 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 156 shares during the last quarter. Stock Yards Bank & Trust Co. bought a new position in Crown Castle during the second quarter worth $1,173,000. UBS Oconnor LLC raised its stake in shares of Crown Castle by 99.2% in the third quarter. UBS Oconnor LLC now owns 107,248 shares of the real estate investment trust’s stock valued at $15,503,000 after purchasing an additional 53,421 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Crown Castle by 0.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 276,761 shares of the real estate investment trust’s stock worth $40,004,000 after acquiring an additional 2,314 shares during the period. Finally, Financial Counselors Inc. boosted its holdings in Crown Castle by 1.1% during the third quarter. Financial Counselors Inc. now owns 134,499 shares of the real estate investment trust’s stock valued at $19,442,000 after purchasing an additional 1,489 shares in the last quarter. Institutional investors and hedge funds own 90.27% of the company’s stock.

Crown Castle Trading Up 1.2 %

CCI opened at $132.69 on Thursday. The firm’s fifty day simple moving average is $140.52 and its 200 day simple moving average is $142.11. Crown Castle Inc. has a 12 month low of $121.71 and a 12 month high of $199.97. The stock has a market capitalization of $57.51 billion, a P/E ratio of 34.38 and a beta of 0.65. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 2.81.

Crown Castle (NYSE:CCI – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.83). The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.74 billion. Crown Castle had a return on equity of 21.58% and a net margin of 23.96%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 earnings per share. As a group, research analysts anticipate that Crown Castle Inc. will post 7.26 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Tuesday, March 14th. Crown Castle’s payout ratio is 162.18%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. StockNews.com initiated coverage on Crown Castle in a research note on Thursday. They set a “hold” rating for the company. Cowen lifted their target price on shares of Crown Castle from $149.00 to $152.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Deutsche Bank Aktiengesellschaft increased their price target on Crown Castle from $137.00 to $142.00 in a research report on Friday, December 16th. Raymond James lifted their price objective on Crown Castle from $153.00 to $154.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. Finally, Barclays increased their target price on Crown Castle from $152.00 to $153.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.36.

Crown Castle Profile

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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.