Texas Permanent School Fund Corp Raises Holdings in Crown Castle Inc. (NYSE:CCI)

Texas Permanent School Fund Corp increased its holdings in Crown Castle Inc. (NYSE:CCI) by 0.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,535 shares of the real estate investment trust’s stock after purchasing an additional 571 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Crown Castle were worth $9,475,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CCI. Valley National Advisers Inc. boosted its holdings in Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 97 shares during the period. Pinnacle Bancorp Inc. boosted its holdings in Crown Castle by 17.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 677 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 100 shares during the period. Waterfront Wealth Inc. boosted its holdings in Crown Castle by 1.9% in the fourth quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock valued at $635,000 after purchasing an additional 101 shares during the period. Raleigh Capital Management Inc. boosted its holdings in Crown Castle by 0.5% in the third quarter. Raleigh Capital Management Inc. now owns 18,986 shares of the real estate investment trust’s stock valued at $1,747,000 after purchasing an additional 103 shares during the period. Finally, Sunbelt Securities Inc. boosted its holdings in Crown Castle by 2.0% in the third quarter. Sunbelt Securities Inc. now owns 5,354 shares of the real estate investment trust’s stock valued at $493,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI traded up $4.54 during midday trading on Thursday, reaching $102.34. 2,361,609 shares of the stock were exchanged, compared to its average volume of 2,807,099. The business’s 50-day moving average price is $98.70 and its 200 day moving average price is $103.67. 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 capitalization of $44.47 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 2.56 and a beta of 0.83.

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 analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the business earned $1.91 EPS. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, sell-side analysts expect that Crown Castle Inc. will post 6.62 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s dividend payout ratio is currently 195.63%.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of recent research reports. Royal Bank of Canada decreased their target price on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a report on Tuesday, May 7th. Raymond James restated an “outperform” rating and issued a $126.00 price target (up from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. The Goldman Sachs Group assumed coverage on Crown Castle in a research note on Monday, July 1st. They issued a “neutral” rating and a $104.00 price target on the stock. Wells Fargo & Company cut their price target on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Finally, Argus cut Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $113.53.

About Crown Castle

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.