RFG Advisory LLC Trims Stock Holdings in Crown Castle Inc. (NYSE:CCI)

RFG Advisory LLC decreased its position in Crown Castle Inc. (NYSE:CCI) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,110 shares of the real estate investment trust’s stock after selling 200 shares during the period. RFG Advisory LLC’s holdings in Crown Castle were worth $753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCI. BTC Capital Management Inc. purchased a new position in shares of Crown Castle during the 1st quarter valued at about $261,000. KMG Fiduciary Partners LLC raised its stake in shares of Crown Castle by 3.1% during the 1st quarter. KMG Fiduciary Partners LLC now owns 15,086 shares of the real estate investment trust’s stock valued at $1,597,000 after buying an additional 456 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in shares of Crown Castle by 13.2% during the 1st quarter. Banque Cantonale Vaudoise now owns 45,584 shares of the real estate investment trust’s stock valued at $4,825,000 after buying an additional 5,327 shares during the last quarter. Czech National Bank raised its stake in shares of Crown Castle by 0.4% during the 1st quarter. Czech National Bank now owns 76,308 shares of the real estate investment trust’s stock valued at $8,076,000 after buying an additional 296 shares during the last quarter. Finally, Green Alpha Advisors LLC raised its stake in shares of Crown Castle by 25.0% during the 1st quarter. Green Alpha Advisors LLC now owns 13,295 shares of the real estate investment trust’s stock valued at $1,407,000 after buying an additional 2,655 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays lifted their price objective on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 23rd. Scotiabank cut their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Bank of America cut their price target on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Finally, Jefferies Financial Group cut their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. 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, the stock currently has a consensus rating of “Hold” and an average price target of $114.21.

Crown Castle Trading Up 0.1 %

Shares of Crown Castle stock opened at $96.50 on Monday. The stock has a market cap 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. The stock’s 50 day simple moving average is $98.18 and its 200-day simple moving average is $105.25. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $119.50. 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 data on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the company posted $1.91 earnings per share. The company’s revenue was down 7.4% on a year-over-year basis. Analysts predict that Crown Castle Inc. will post 6.62 EPS 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. Shareholders of record on Friday, June 14th will be given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.49%. 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.