Sequoia Financial Advisors LLC Decreases Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Sequoia Financial Advisors LLC trimmed its holdings in Crown Castle Inc. (NYSE:CCIFree Report) by 33.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,104 shares of the real estate investment trust’s stock after selling 3,539 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Crown Castle were worth $752,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Fisher Asset Management LLC lifted its stake in Crown Castle by 16.2% in the 4th 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 stake in shares of Crown Castle during the 4th quarter valued at approximately $201,000. Global Assets Advisory LLC purchased a new stake in shares of Crown Castle during the 1st quarter valued at approximately $4,425,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Crown Castle by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock valued at $98,570,000 after buying an additional 8,136 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of 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 valued at $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 Stock Performance

NYSE:CCI opened at $96.07 on Friday. The company has a fifty day simple moving average of $98.56 and a two-hundred day simple moving average of $104.04. The company has a market cap of $41.74 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 2.55 and a beta of 0.83. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $119.50.

Crown Castle (NYSE:CCIGet Free Report) last issued its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.91 EPS. As a group, equities analysts anticipate that Crown Castle Inc. will post 6.62 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.52%. Crown Castle’s payout ratio is currently 195.63%.

Analyst Ratings Changes

CCI has been the topic of several analyst reports. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Barclays lifted their price target 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. Scotiabank reduced their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Raymond James reiterated an “outperform” rating and issued a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Finally, Jefferies Financial Group dropped their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and an average target price of $113.53.

Check Out Our Latest Stock Report on CCI

About Crown Castle

(Free Report)

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.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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