Crown Castle Inc. (NYSE:CCI) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 594.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,699 shares of the real estate investment trust’s stock after purchasing an additional 13,439 shares during the period. Los Angeles Capital Management LLC’s holdings in Crown Castle were worth $1,661,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Crown Castle in the fourth quarter worth approximately $25,000. Operose Advisors LLC acquired a new position in Crown Castle during the third quarter worth $30,000. Gables Capital Management Inc. increased its position in Crown Castle by 164.0% during the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 164 shares during the last quarter. Richardson Financial Services Inc. acquired a new position in Crown Castle during the fourth quarter worth $30,000. Finally, Valley National Advisers Inc. grew its position in shares of 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 last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the topic of several research analyst reports. Scotiabank lowered their price target 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. 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. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Jefferies Financial Group dropped their price objective on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Raymond James restated an “outperform” rating and issued a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $114.21.

Crown Castle Trading Up 0.1 %

CCI opened at $96.50 on Friday. The stock has a market capitalization of $41.93 billion, a P/E ratio of 30.16, a P/E/G 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 firm’s fifty day simple moving average is $98.18 and its 200 day simple moving average is $105.34. 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 posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 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 company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm posted $1.91 earnings per share. The company’s revenue was down 7.4% compared to the same quarter last year. As a group, research analysts anticipate 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 will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.49%. Crown Castle’s dividend payout ratio (DPR) 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.