Crown Castle Inc. (NYSE:CCI) Shares Acquired by Financial Management Professionals Inc.

Financial Management Professionals Inc. grew its holdings in Crown Castle Inc. (NYSE:CCI) by 12.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,892 shares of the real estate investment trust’s stock after buying an additional 314 shares during the period. Financial Management Professionals Inc.’s holdings in Crown Castle were worth $306,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CCI. O Shaughnessy Asset Management LLC raised its stake in shares of Crown Castle by 93.5% during the third quarter. O Shaughnessy Asset Management LLC now owns 17,099 shares of the real estate investment trust’s stock worth $1,574,000 after purchasing an additional 8,263 shares during the last quarter. Bank of Nova Scotia increased its stake in Crown Castle by 13.6% in the 3rd quarter. Bank of Nova Scotia now owns 41,233 shares of the real estate investment trust’s stock valued at $3,795,000 after buying an additional 4,937 shares during the period. Ancora Advisors LLC raised its position in Crown Castle by 62.8% during the 3rd quarter. Ancora Advisors LLC now owns 7,682 shares of the real estate investment trust’s stock worth $707,000 after buying an additional 2,964 shares during the last quarter. Ironwood Investment Counsel LLC lifted its stake in shares of Crown Castle by 18.7% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 11,675 shares of the real estate investment trust’s stock worth $1,074,000 after acquiring an additional 1,840 shares during the period. Finally, Fred Alger Management LLC increased its stake in shares of Crown Castle by 37.7% during the third quarter. Fred Alger Management LLC now owns 44,167 shares of the real estate investment trust’s stock worth $4,065,000 after acquiring an additional 12,092 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CCI shares. Royal Bank of Canada dropped their price objective on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 7th. Bank of America reduced their target price on Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Barclays raised their price objective on Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 23rd. Finally, BMO Capital Markets reduced their target price on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research report on Thursday, April 18th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $114.21.

Crown Castle Stock Performance

NYSE:CCI opened at $97.70 on Friday. The firm has a 50-day moving average of $98.42 and a two-hundred day moving average of $104.67. 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 stock has a market cap of $42.45 billion, a P/E ratio of 30.53, a PEG ratio of 2.59 and a beta of 0.82. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $119.50.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business earned $1.91 EPS. Crown Castle’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, research analysts expect that Crown Castle Inc. will post 6.62 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.41%. Crown Castle’s dividend payout ratio (DPR) 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.