Adell Harriman & Carpenter Inc. Cuts Position in Crown Castle Inc. (NYSE:CCI)

Adell Harriman & Carpenter Inc. cut its position in Crown Castle Inc. (NYSE:CCI) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,975 shares of the real estate investment trust’s stock after selling 775 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Crown Castle were worth $803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CCI. Dakota Community Bank & Trust NA increased its stake in Crown Castle by 4.2% during the third quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock worth $204,000 after purchasing an additional 90 shares during the period. Valley National Advisers Inc. grew its stake in shares of Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 97 shares in the last quarter. Pinnacle Bancorp Inc. raised its stake in shares of Crown Castle by 17.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 677 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 100 shares in the last quarter. Waterfront Wealth Inc. boosted its holdings in Crown Castle by 1.9% in the fourth quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock valued at $635,000 after purchasing an additional 101 shares during the period. Finally, Raleigh Capital Management Inc. increased its holdings in Crown Castle by 0.5% during the 3rd quarter. Raleigh Capital Management Inc. now owns 18,986 shares of the real estate investment trust’s stock worth $1,747,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Barclays raised their price target 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. BMO Capital Markets dropped their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Finally, Bank of America decreased their target price 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. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $113.29.

Crown Castle Stock Performance

NYSE CCI traded down $0.67 during trading on Tuesday, reaching $94.65. The company’s stock had a trading volume of 471,061 shares, compared to its average volume of 2,811,900. The business’s fifty day moving average price is $103.39 and its 200-day moving average price is $105.42. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $123.31. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. The firm has a market cap of $41.13 billion, a price-to-earnings ratio of 29.57, a P/E/G ratio of 2.49 and a beta of 0.73.

Crown Castle (NYSE:CCI) last issued its quarterly 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). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm earned $1.91 EPS. The business’s revenue was down 7.4% on a year-over-year basis. As a group, analysts anticipate that Crown Castle Inc. will post 6.59 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.61%. The ex-dividend date was Thursday, March 14th. Crown Castle’s dividend payout ratio 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.