Cwm LLC Sells 532 Shares of Crown Castle Inc. (NYSE:CCI)

Cwm LLC trimmed its position in Crown Castle Inc. (NYSE:CCI) by 4.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 12,014 shares of the real estate investment trust’s stock after selling 532 shares during the period. Cwm LLC’s holdings in Crown Castle were worth $1,271,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Trust Co. of Toledo NA OH boosted its position in Crown Castle by 24.3% in the 1st quarter. Trust Co. of Toledo NA OH now owns 7,337 shares of the real estate investment trust’s stock valued at $776,000 after buying an additional 1,432 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of Crown Castle by 66.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 405 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 161 shares during the period. Belfer Management LLC acquired a new position in shares of Crown Castle in the 4th quarter valued at $233,000. HighPoint Advisor Group LLC acquired a new position in shares of Crown Castle in the 4th quarter valued at $743,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of 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 valued at $38,010,000 after purchasing an additional 26,880 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of analyst reports. Scotiabank cut their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Royal Bank of Canada cut their price target on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 7th. 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. Wells Fargo & Company dropped their price objective 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, Deutsche Bank Aktiengesellschaft dropped their price objective on Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Eleven 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, Crown Castle currently has an average rating of “Hold” and a consensus price target of $114.21.

Crown Castle Stock Performance

CCI opened at $95.34 on Thursday. The business’s 50-day moving average price is $98.20 and its two-hundred day moving average price is $105.64. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $119.50. The company has a market capitalization of $41.43 billion, a price-to-earnings ratio of 29.79, a P/E/G ratio of 2.53 and a beta of 0.82. 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 (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). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business earned $1.91 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities analysts expect that Crown Castle Inc. will post 6.62 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.57%. The ex-dividend date is Friday, June 14th. Crown Castle’s payout ratio is 195.63%.

Crown Castle 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.