Newbridge Financial Services Group Inc. Acquires 161 Shares of Crown Castle Inc. (NYSE:CCI)

Newbridge Financial Services Group Inc. lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 66.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405 shares of the real estate investment trust’s stock after purchasing an additional 161 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Crown Castle were worth $47,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Belfer Management LLC purchased a new stake in Crown Castle in the 4th quarter worth about $233,000. HighPoint Advisor Group LLC purchased a new stake in Crown Castle in the 4th quarter worth about $743,000. PNC Financial Services Group Inc. increased its holdings in Crown Castle by 8.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 329,980 shares of the real estate investment trust’s stock worth $38,010,000 after acquiring an additional 26,880 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in Crown Castle in the 4th quarter worth about $25,000. Finally, Leo Wealth LLC purchased a new stake in Crown Castle in the 4th quarter worth about $3,228,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCI has been the subject of several recent research reports. Royal Bank of Canada decreased their price objective 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. BMO Capital Markets reduced their target price 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. Wells Fargo & Company reduced their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Scotiabank reduced their target price 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. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average target price of $114.21.

Crown Castle Stock Performance

Shares of CCI opened at $95.35 on Wednesday. The stock has a 50-day moving average price of $98.24 and a 200-day moving average price of $105.71. The company has a market cap of $41.43 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 2.55 and a beta of 0.82. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $119.50. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share 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 quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.91 EPS. As a group, equities analysts forecast that Crown Castle Inc. will post 6.62 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $1.565 dividend. The ex-dividend date is Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.57%. 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.