Fiduciary Alliance LLC Raises Stock Position in Crown Castle Inc. (NYSE:CCI)

Fiduciary Alliance LLC raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 9.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 87,711 shares of the real estate investment trust’s stock after buying an additional 7,283 shares during the period. Crown Castle makes up about 1.6% of Fiduciary Alliance LLC’s portfolio, making the stock its 16th biggest holding. Fiduciary Alliance LLC’s holdings in Crown Castle were worth $9,145,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. United Services Automobile Association increased its holdings in shares of Crown Castle by 23.1% in the third quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock valued at $1,234,000 after purchasing an additional 2,516 shares during the period. Fisher Asset Management LLC grew its position in shares of Crown Castle by 16.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock valued at $523,773,000 after purchasing an additional 632,398 shares during the period. Court Place Advisors LLC purchased a new position in shares of Crown Castle during the 4th quarter worth about $201,000. Global Assets Advisory LLC acquired a new stake in shares of Crown Castle during the 1st quarter worth $4,425,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Crown Castle by 8,611.0% in 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 in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CCI shares. Barclays lifted their price target on shares of Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 23rd. Bank of America reduced their price objective on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. BMO Capital Markets cut their target price on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. Raymond James reissued an “outperform” rating and issued a $126.00 price target (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Finally, Royal Bank of Canada dropped their price target on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 7th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $114.21.

Crown Castle Price Performance

CCI traded up $0.31 during trading on Friday, hitting $97.70. 9,395,095 shares of the stock traded hands, compared to its average volume of 2,492,467. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $119.50. The company has a market cap of $42.45 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.59 and a beta of 0.82. The business has a 50 day moving average price of $98.42 and a 200 day moving average price of $104.67.

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

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $1.565 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.26 annualized dividend and a yield of 6.41%. Crown Castle’s payout ratio is 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.