InterOcean Capital Group LLC Invests $1.02 Million in Crown Castle Inc. (NYSE:CCI)

InterOcean Capital Group LLC acquired a new stake in Crown Castle Inc. (NYSE:CCI) during the fourth quarter, Holdings Channel.com reports. The fund acquired 8,840 shares of the real estate investment trust’s stock, valued at approximately $1,018,000.

A number of other hedge funds have also added to or reduced their stakes in CCI. Norges Bank acquired a new stake in Crown Castle in the fourth quarter valued at approximately $581,503,000. The Manufacturers Life Insurance Company boosted its position in Crown Castle by 42.8% in the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after buying an additional 2,121,603 shares in the last quarter. Barclays PLC boosted its position 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 buying an additional 2,096,272 shares in the last quarter. Wellington Management Group LLP boosted 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 valued at $932,682,000 after buying an additional 1,818,910 shares in the last quarter. Finally, Mizuho Markets Americas LLC acquired a new stake in Crown Castle in the fourth quarter valued at approximately $201,582,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Down 1.0 %

Shares of NYSE:CCI traded down $1.00 during midday trading on Thursday, hitting $99.22. 309,021 shares of the company’s stock were exchanged, compared to its average volume of 2,852,772. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a 50 day moving average price of $99.71 and a 200-day moving average price of $106.25. The company has a market cap of $43.11 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 2.69 and a beta of 0.76. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $119.50.

Crown Castle (NYSE:CCI) last posted 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). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm earned $1.91 earnings per share. The company’s revenue was down 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Crown Castle Inc. will post 6.58 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.31%. Crown Castle’s payout ratio is 195.63%.

Wall Street Analyst Weigh In

CCI has been the topic of a number of research analyst reports. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Scotiabank cut 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 report on Thursday, April 18th. Wells Fargo & Company cut their price target on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Finally, BMO Capital Markets cut their price target on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus target price of $112.64.

Crown Castle Company 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.