Kestra Private Wealth Services LLC Acquires 607 Shares of Crown Castle Inc. (NYSE:CCI)

Kestra Private Wealth Services LLC raised its holdings in Crown Castle Inc. (NYSE:CCI) by 12.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,595 shares of the real estate investment trust’s stock after purchasing an additional 607 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Crown Castle were worth $644,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CCI. United Services Automobile Association boosted its stake in shares of Crown Castle by 23.1% in the third 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. Court Place Advisors LLC bought a new stake in shares of Crown Castle during the 4th quarter valued at $201,000. Van ECK Associates Corp grew its holdings in shares of Crown Castle by 0.5% during the 3rd quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock worth $10,852,000 after purchasing an additional 542 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Crown Castle by 8,611.0% in the fourth quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock worth $81,006,000 after purchasing an additional 695,163 shares during the period. Finally, Manning & Napier Group LLC bought a new position in shares of Crown Castle in the fourth quarter worth $5,005,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Barclays boosted their price objective on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 23rd. Argus cut Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Scotiabank decreased their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Finally, Wells Fargo & Company lowered their price target on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Crown Castle currently has an average rating of “Hold” and a consensus target price of $113.29.

Crown Castle Stock Performance

Shares of CCI stock opened at $97.39 on Monday. The firm has a market capitalization of $42.32 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.59 and a beta of 0.76. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73. The business’s 50-day moving average price is $102.38 and its 200-day moving average price is $105.49. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $119.60.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data 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). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the business earned $1.91 EPS. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. Equities research analysts forecast that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.43%. Crown Castle’s payout ratio is 195.63%.

Crown Castle 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.