Tucker Asset Management LLC Purchases 166 Shares of Crown Castle Inc. (NYSE:CCI)

Tucker Asset Management LLC grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 13.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,414 shares of the real estate investment trust’s stock after buying an additional 166 shares during the period. Tucker Asset Management LLC’s holdings in Crown Castle were worth $163,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CCI. United Services Automobile Association grew its holdings in Crown Castle by 23.1% during the 3rd quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock worth $1,234,000 after acquiring an additional 2,516 shares during the last quarter. Court Place Advisors LLC bought a new stake in shares of Crown Castle during the 4th quarter worth $201,000. International Assets Investment Management LLC lifted its stake in 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 purchasing an additional 695,163 shares during the last quarter. Rafferty Asset Management LLC boosted its position in Crown Castle by 20.1% during the fourth quarter. Rafferty Asset Management LLC now owns 58,210 shares of the real estate investment trust’s stock worth $6,705,000 after purchasing an additional 9,762 shares during the period. Finally, Manning & Napier Group LLC purchased a new position in Crown Castle during the 4th quarter valued at about $5,005,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CCI shares. Scotiabank cut their price objective on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Bank of America cut 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. Argus downgraded shares of Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Raymond James reiterated an “outperform” rating and issued a $126.00 price target (up previously from $124.00) on shares of Crown Castle in a research report on Friday. Finally, Royal Bank of Canada reduced their target price on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 7th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and a consensus target price of $114.21.

Crown Castle Stock Performance

Crown Castle stock traded up $0.82 during mid-day trading on Friday, reaching $99.10. 2,013,641 shares of the company were exchanged, compared to its average volume of 2,309,722. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $119.50. The firm’s 50-day simple moving average is $98.45 and its two-hundred day simple moving average is $106.09. The firm has a market cap of $43.06 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.65 and a beta of 0.82. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share 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 business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the business posted $1.91 earnings per share. The business’s revenue was down 7.4% compared to the same quarter last year. Equities analysts predict that Crown Castle Inc. will post 6.6 earnings per share 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. Investors of record on Friday, June 14th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.26 annualized dividend and a yield of 6.32%. Crown Castle’s dividend payout ratio is presently 195.63%.

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.