Phocas Financial Corp. Acquires 260 Shares of Crown Castle Inc. (NYSE:CCI)

Phocas Financial Corp. raised its holdings in shares of Crown Castle Inc. (NYSE:CCI – Get Rating) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,027 shares of the real estate investment trust’s stock after acquiring an additional 260 shares during the period. Phocas Financial Corp.’s holdings in Crown Castle were worth $1,496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Activest Wealth Management boosted its stake in shares of Crown Castle by 847.4% during the third quarter. Activest Wealth Management now owns 180 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 161 shares during the period. Almanack Investment Partners LLC. purchased a new stake in shares of Crown Castle during the third quarter valued at approximately $28,000. Johnson Financial Group Inc. boosted its stake in shares of Crown Castle by 210.8% during the second quarter. Johnson Financial Group Inc. now owns 230 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 156 shares during the period. Webster Bank N. A. boosted its stake in shares of Crown Castle by 111.1% during the third quarter. Webster Bank N. A. now owns 380 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 200 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its stake in shares of Crown Castle by 40.5% during the third quarter. Rosenberg Matthew Hamilton now owns 385 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 111 shares during the period. 90.27% of the stock is currently owned by institutional investors.

Crown Castle Stock Down 1.7 %

Crown Castle stock traded down $2.26 on Friday, hitting $130.26. 3,556,756 shares of the stock traded hands, compared to its average volume of 2,024,829. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 2.81. The firm has a market cap of $56.46 billion, a P/E ratio of 33.75 and a beta of 0.65. The business’s fifty day simple moving average is $140.04 and its 200 day simple moving average is $141.75. Crown Castle Inc. has a 1 year low of $121.71 and a 1 year high of $199.97.

Crown Castle (NYSE:CCI – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The real estate investment trust reported $0.95 EPS for the quarter, missing the consensus estimate of $1.78 by ($0.83). The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Crown Castle had a net margin of 23.96% and a return on equity of 21.58%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.77 EPS. As a group, sell-side analysts forecast that Crown Castle Inc. will post 7.26 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be issued a dividend of $1.565 per share. The ex-dividend date is Tuesday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 4.81%. Crown Castle’s payout ratio is presently 162.18%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CCI shares. Deutsche Bank Aktiengesellschaft increased their price objective on Crown Castle from $137.00 to $142.00 in a research note on Friday, December 16th. Royal Bank of Canada raised their price target on Crown Castle from $150.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 31st. StockNews.com initiated coverage on Crown Castle in a research note on Thursday. They issued a “hold” rating for the company. Cowen raised their price target on Crown Castle from $149.00 to $152.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Finally, Raymond James raised their price target on Crown Castle from $153.00 to $154.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and an average target price of $159.36.

Crown Castle Profile

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Crown Castle, Inc is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the Towers and Fiber segments. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.