Crown Castle Inc. (NYSE:CCI) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its position in shares of Crown Castle Inc. (NYSE:CCI) by 13.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,926 shares of the real estate investment trust’s stock after acquiring an additional 821 shares during the period. International Assets Investment Management LLC’s holdings in Crown Castle were worth $722,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. United Services Automobile Association increased its holdings in Crown Castle by 23.1% in the third quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock valued at $1,234,000 after buying an additional 2,516 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Crown Castle by 16.2% during the fourth quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock worth $523,773,000 after purchasing an additional 632,398 shares during the last quarter. Court Place Advisors LLC acquired a new position in Crown Castle in the fourth quarter valued at approximately $201,000. Rafferty Asset Management LLC increased its stake in Crown Castle by 20.1% in the fourth quarter. Rafferty Asset Management LLC now owns 58,210 shares of the real estate investment trust’s stock valued at $6,705,000 after purchasing an additional 9,762 shares during the last quarter. Finally, Manning & Napier Group LLC acquired a new stake in Crown Castle during the fourth quarter worth approximately $5,005,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CCI has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their target price on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 7th. Scotiabank decreased their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. BMO Capital Markets reduced their price objective on 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. Bank of America lowered their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Jefferies Financial Group lowered their price objective on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $114.21.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $96.50 on Monday. The business’s 50 day simple moving average is $98.18 and its 200-day simple moving average is $105.25. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $41.93 billion, a price-to-earnings ratio of 30.16, 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.

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 for the quarter, missing the consensus estimate of $1.63 by ($0.92). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business posted $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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.49%. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

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.