Advisory Services Network LLC Has $2.84 Million Stake in Crown Castle Inc. (NYSE:CCI)

Advisory Services Network LLC increased its stake in Crown Castle Inc. (NYSE:CCIFree Report) by 26.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,659 shares of the real estate investment trust’s stock after purchasing an additional 5,133 shares during the quarter. Advisory Services Network LLC’s holdings in Crown Castle were worth $2,840,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CCI. United Services Automobile Association raised its holdings in Crown Castle by 23.1% in the 3rd quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock worth $1,234,000 after acquiring an additional 2,516 shares during the period. Court Place Advisors LLC acquired a new position in shares of Crown Castle during the 4th quarter worth about $201,000. Van ECK Associates Corp boosted its stake in 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 valued at $10,852,000 after purchasing an additional 542 shares during the period. International Assets Investment Management LLC boosted its stake in 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 purchasing an additional 695,163 shares during the period. Finally, Manning & Napier Group LLC bought a new position in Crown Castle in the 4th quarter worth approximately $5,005,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 0.9 %

Shares of NYSE CCI opened at $98.12 on Monday. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42. The business has a fifty day moving average of $99.42 and a two-hundred day moving average of $106.35. The stock has a market cap of $42.64 billion, a PE ratio of 30.66, a PEG ratio of 2.62 and a beta of 0.76.

Crown Castle (NYSE:CCIGet Free Report) last announced its 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 analyst estimates of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.91 EPS. As a group, equities research analysts expect that Crown Castle Inc. will post 6.58 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.38%. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Analyst Upgrades and Downgrades

CCI has been the subject of several research reports. Argus cut Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Bank of America dropped their price objective on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Jefferies Financial Group reduced their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Royal Bank of Canada lowered their price target on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 7th. Finally, Scotiabank cut their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $112.64.

Get Our Latest Research Report on CCI

Crown Castle Profile

(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.

Further Reading

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

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