Amalgamated Bank Reduces Holdings in Crown Castle Inc. (NYSE:CCI)

Amalgamated Bank reduced its position in Crown Castle Inc. (NYSE:CCI) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 104,635 shares of the real estate investment trust’s stock after selling 5,043 shares during the period. Amalgamated Bank’s holdings in Crown Castle were worth $12,053,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. United Services Automobile Association increased its holdings in shares of Crown Castle by 23.1% in the third quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock valued at $1,234,000 after purchasing an additional 2,516 shares during the period. Court Place Advisors LLC purchased a new position in Crown Castle during the 4th quarter worth $201,000. Van ECK Associates Corp lifted its stake in shares of Crown Castle by 0.5% in the 3rd quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock worth $10,852,000 after acquiring an additional 542 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Crown Castle by 8,611.0% in the fourth quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock valued at $81,006,000 after acquiring an additional 695,163 shares in the last quarter. Finally, Manning & Napier Group LLC purchased a new stake in shares of Crown Castle in the fourth quarter valued at about $5,005,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of analyst reports. Jefferies Financial Group decreased their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Scotiabank lowered their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Wells Fargo & Company reduced their price objective on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft dropped their price target on Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Finally, Barclays lifted their price objective on Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.29.

Crown Castle Trading Up 1.0 %

Crown Castle stock traded up $0.95 during trading on Friday, hitting $97.39. The company’s stock had a trading volume of 4,119,456 shares, compared to its average volume of 3,351,464. The stock’s fifty day moving average is $102.61 and its 200 day moving average is $105.28. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $119.60. The stock has a market capitalization of $42.32 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 2.57 and a beta of 0.76. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42.

Crown Castle (NYSE:CCI) last posted 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the company earned $1.91 EPS. The company’s revenue was down 7.4% compared to the same quarter last year. As a group, equities research analysts predict that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is currently 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.