Summit Trail Advisors LLC Grows Stake in Crown Castle Inc. (NYSE:CCI)

Summit Trail Advisors LLC boosted its position in shares of Crown Castle Inc. (NYSE:CCI) by 17.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,007 shares of the real estate investment trust’s stock after acquiring an additional 595 shares during the quarter. Summit Trail Advisors LLC’s holdings in Crown Castle were worth $462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in Crown Castle by 42.8% during the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after purchasing an additional 2,121,603 shares in the last quarter. Barclays PLC boosted its stake in Crown Castle by 217.9% during the third quarter. Barclays PLC now owns 3,058,133 shares of the real estate investment trust’s stock worth $281,439,000 after buying an additional 2,096,272 shares during the period. Wellington Management Group LLP grew its holdings in Crown Castle by 21.9% during the 3rd quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock valued at $932,682,000 after purchasing an additional 1,818,910 shares during the last quarter. FMR LLC raised its holdings in shares of Crown Castle by 14.3% in the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock worth $1,098,526,000 after buying an additional 1,496,330 shares during the period. Finally, Morgan Stanley increased its stake in Crown Castle by 8.9% in the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock worth $1,203,648,000 after purchasing an additional 1,064,382 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Bank of America lowered their price objective on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Scotiabank cut 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 report on Thursday, April 18th. Barclays increased 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. BMO Capital Markets cut their target price on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research report on Thursday, April 18th. Finally, Jefferies Financial Group lowered their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.29.

Crown Castle Stock Performance

NYSE CCI traded up $0.89 during mid-day trading on Tuesday, reaching $96.81. 707,735 shares of the stock were exchanged, compared to its average volume of 2,877,461. The business’s 50 day moving average is $102.18 and its 200-day moving average is $105.56. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $119.60. The company has a market capitalization of $42.07 billion, a P/E ratio of 29.98, a P/E/G ratio of 2.59 and a beta of 0.76. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results 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). The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period last year, the company posted $1.91 earnings per share. On average, equities research analysts forecast that Crown Castle Inc. will post 6.59 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.47%. Crown Castle’s dividend payout ratio is currently 195.63%.

Crown Castle Company 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.