Disciplined Equity Management Inc. Purchases New Shares in Crown Castle Inc. (NYSE:CCI)

Disciplined Equity Management Inc. acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 1st quarter, Holdings Channel reports. The firm acquired 17,580 shares of the real estate investment trust’s stock, valued at approximately $1,860,000. Crown Castle makes up 1.2% of Disciplined Equity Management Inc.’s holdings, making the stock its 13th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its position in shares of Crown Castle by 44.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,542 shares of the real estate investment trust’s stock valued at $163,000 after acquiring an additional 472 shares during the period. Signaturefd LLC lifted its position in Crown Castle by 14.9% during the first quarter. Signaturefd LLC now owns 17,885 shares of the real estate investment trust’s stock worth $1,893,000 after purchasing an additional 2,318 shares during the period. Avidian Wealth Solutions LLC acquired a new stake in Crown Castle during the first quarter worth about $269,000. Mediolanum International Funds Ltd acquired a new stake in Crown Castle during the first quarter worth about $4,325,000. Finally, Wellington Shields & Co. LLC increased its holdings in Crown Castle by 50.0% in the 1st quarter. Wellington Shields & Co. LLC now owns 1,500 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 500 shares during the period. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of recent analyst reports. Barclays lifted 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 note on Tuesday, April 23rd. BMO Capital Markets lowered their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Scotiabank decreased their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Wells Fargo & Company lowered their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $113.53.

Crown Castle Price Performance

Shares of Crown Castle stock traded up $4.54 during trading on Thursday, hitting $102.34. 2,361,609 shares of the stock traded hands, compared to its average volume of 2,807,099. The stock has a market cap of $44.47 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 2.56 and a beta of 0.83. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $119.50. The firm’s fifty day moving average is $98.70 and its 200-day moving average is $103.67.

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 during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.91 EPS. Research analysts expect that Crown Castle Inc. will post 6.62 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.12%. 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.