Summit Trail Advisors LLC Buys 595 Shares of Crown Castle Inc. (NYSE:CCI)

Summit Trail Advisors LLC lifted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 17.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,007 shares of the real estate investment trust’s stock after buying an additional 595 shares during the period. Summit Trail Advisors LLC’s holdings in Crown Castle were worth $462,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CCI. The Manufacturers Life Insurance Company lifted its holdings in Crown Castle by 42.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock worth $651,910,000 after buying an additional 2,121,603 shares in the last quarter. Barclays PLC boosted its holdings in Crown Castle by 217.9% in the third quarter. Barclays PLC now owns 3,058,133 shares of the real estate investment trust’s stock valued at $281,439,000 after acquiring an additional 2,096,272 shares during the last quarter. Wellington Management Group LLP increased its position in Crown Castle by 21.9% in the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock worth $932,682,000 after purchasing an additional 1,818,910 shares during the period. FMR LLC raised its holdings in Crown Castle by 14.3% during the 3rd quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock worth $1,098,526,000 after purchasing an additional 1,496,330 shares during the last quarter. Finally, Morgan Stanley lifted its position in Crown Castle by 8.9% during the 3rd quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after purchasing an additional 1,064,382 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Up 0.9 %

Shares of CCI stock traded up $0.89 on Tuesday, hitting $96.81. 707,735 shares of the stock were exchanged, compared to its average volume of 2,877,461. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73. The firm has a market capitalization of $42.07 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 2.59 and a beta of 0.76. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $119.60. The business has a 50-day moving average of $102.18 and a 200 day moving average of $105.56.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.91 EPS. Equities analysts anticipate that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.47%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is 195.63%.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Scotiabank cut their price target on 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. Bank of America decreased their price objective 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. BMO Capital Markets cut their target price on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research note on Thursday, April 18th. Finally, Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Crown Castle has a consensus rating of “Hold” and a consensus target price of $113.29.

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.