Adell Harriman & Carpenter Inc. Has $803,000 Stake in Crown Castle Inc. (NYSE:CCI)

Adell Harriman & Carpenter Inc. reduced its stake in Crown Castle Inc. (NYSE:CCI) by 10.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,975 shares of the real estate investment trust’s stock after selling 775 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Crown Castle were worth $803,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Intrust Bank NA raised its stake in Crown Castle by 19.7% during the 4th quarter. Intrust Bank NA now owns 3,514 shares of the real estate investment trust’s stock worth $405,000 after buying an additional 578 shares during the period. Naviter Wealth LLC raised its position in shares of Crown Castle by 28.6% during the fourth quarter. Naviter Wealth LLC now owns 39,397 shares of the real estate investment trust’s stock worth $4,538,000 after purchasing an additional 8,772 shares during the period. Gilbert & Cook Inc. lifted its holdings in shares of Crown Castle by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock valued at $355,000 after purchasing an additional 110 shares in the last quarter. HHM Wealth Advisors LLC grew its position in shares of Crown Castle by 35.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 535 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 140 shares during the period. Finally, Transcend Capital Advisors LLC increased its stake in Crown Castle by 17.4% during the 4th quarter. Transcend Capital Advisors LLC now owns 2,763 shares of the real estate investment trust’s stock worth $318,000 after purchasing an additional 409 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of NYSE CCI traded down $0.67 during mid-day trading on Tuesday, reaching $94.65. 471,061 shares of the company were exchanged, compared to its average volume of 2,811,900. The stock has a market capitalization of $41.13 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.49 and a beta of 0.73. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The company’s 50-day simple moving average is $103.39 and its 200-day simple moving average is $105.42. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $123.31.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the business posted $1.91 EPS. Crown Castle’s revenue for the quarter was down 7.4% on a year-over-year basis. As a group, research analysts predict that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.61%. Crown Castle’s dividend payout ratio is presently 195.63%.

Wall Street Analyst Weigh In

CCI has been the topic of a number of research reports. Bank of America cut their price target on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. BMO Capital Markets dropped their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research note on Thursday, April 18th. Argus cut Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Jefferies Financial Group dropped their target price on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Scotiabank reduced their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $113.29.

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.