Court Place Advisors LLC Acquires Shares of 1,741 Crown Castle Inc. (NYSE:CCI)

Court Place Advisors LLC bought a new stake in Crown Castle Inc. (NYSE:CCI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,741 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its position in shares of Crown Castle by 13.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 56,815 shares of the real estate investment trust’s stock valued at $6,545,000 after buying an additional 6,917 shares in the last quarter. Avior Wealth Management LLC increased its position in Crown Castle by 1,014.1% during the 4th quarter. Avior Wealth Management LLC now owns 5,615 shares of the real estate investment trust’s stock worth $647,000 after purchasing an additional 5,111 shares in the last quarter. St. James Investment Company LLC increased its position in Crown Castle by 10.5% during the 4th quarter. St. James Investment Company LLC now owns 150,207 shares of the real estate investment trust’s stock worth $17,302,000 after purchasing an additional 14,294 shares in the last quarter. United Asset Strategies Inc. increased its position in Crown Castle by 19.5% during the 4th quarter. United Asset Strategies Inc. now owns 4,986 shares of the real estate investment trust’s stock worth $574,000 after purchasing an additional 815 shares in the last quarter. Finally, SVB Wealth LLC increased its position in Crown Castle by 4.5% during the 4th quarter. SVB Wealth LLC now owns 3,924 shares of the real estate investment trust’s stock worth $452,000 after purchasing an additional 168 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Trading Up 1.2 %

Shares of NYSE:CCI traded up $1.09 during trading on Thursday, reaching $94.14. The stock had a trading volume of 517,318 shares, compared to its average volume of 2,747,826. The firm’s fifty day moving average is $105.41 and its 200 day moving average is $105.15. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.40 and a current ratio of 0.40. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $134.09. The stock has a market cap of $40.91 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 2.50 and a beta of 0.73.

Crown Castle (NYSE:CCI) last issued its 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). The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a return on equity of 21.95% and a net margin of 21.47%. The firm’s revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 earnings per share. As a group, equities analysts forecast that Crown Castle Inc. will post 6.59 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.65%. The ex-dividend date was Thursday, March 14th. Crown Castle’s dividend payout ratio is presently 180.92%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CCI. Royal Bank of Canada upped their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 21st. BMO Capital Markets lowered their price objective on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Crown Castle has an average rating of “Hold” and an average price target of $118.57.

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.