Salvus Wealth Management LLC Decreases Position in Crown Castle Inc. (NYSE:CCI)

Salvus Wealth Management LLC decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 33.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,409 shares of the real estate investment trust’s stock after selling 2,232 shares during the quarter. Salvus Wealth Management LLC’s holdings in Crown Castle were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. lifted its position in Crown Castle by 13.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 90 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Crown Castle by 2.4% in the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 91 shares in the last quarter. True North Advisors LLC raised its stake in shares of Crown Castle by 4.2% in the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 95 shares during the last quarter. Granite Investment Partners LLC lifted its holdings in shares of Crown Castle by 0.5% during the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after purchasing an additional 100 shares in the last quarter. Finally, Malaga Cove Capital LLC boosted its position in shares of Crown Castle by 1.8% during the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock valued at $658,000 after buying an additional 100 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $117.00 to $104.00 in a research report on Monday. Finally, Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $105.00 to $100.00 in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Crown Castle presently has a consensus rating of “Hold” and a consensus price target of $113.00.

Crown Castle Stock Performance

NYSE:CCI opened at $90.67 on Friday. The stock has a 50-day simple moving average of $97.23 and a two-hundred day simple moving average of $105.67. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The firm has a market capitalization of $39.40 billion, a PE ratio of 32.15 and a beta of 0.87.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the company posted $1.77 earnings per share. The company’s revenue was down .9% compared to the same quarter last year. Analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.90%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

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.