Crown Castle Inc. (NYSE:CCI) Shares Bought by Kowal Investment Group LLC

Kowal Investment Group LLC grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 27.4% in the first quarter, HoldingsChannel reports. The fund owned 3,776 shares of the real estate investment trust’s stock after buying an additional 813 shares during the period. Kowal Investment Group LLC’s holdings in Crown Castle were worth $400,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Morgan Stanley lifted its holdings in shares of Crown Castle by 8.9% in the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after buying an additional 1,064,382 shares during the period. Cohen & Steers Inc. lifted its holdings in shares of Crown Castle by 7.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after purchasing an additional 834,198 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Crown Castle by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock valued at $1,297,147,000 after purchasing an additional 1,126,394 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Crown Castle by 42.8% during 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 purchasing an additional 2,121,603 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Crown Castle by 2.9% during the third quarter. Legal & General Group Plc now owns 5,568,481 shares of the real estate investment trust’s stock valued at $512,467,000 after purchasing an additional 155,543 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CCI shares. Barclays upped their target price on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Jefferies Financial Group dropped their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Raymond James reissued an “outperform” rating and set a $126.00 price target (up from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $113.53.

Crown Castle Price Performance

Shares of NYSE:CCI traded down $1.88 during midday trading on Monday, reaching $95.82. The company’s stock had a trading volume of 1,037,340 shares, compared to its average volume of 2,851,189. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $119.50. The company has a market capitalization of $41.64 billion, a P/E ratio of 30.03, a P/E/G ratio of 2.59 and a beta of 0.83. 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 business’s fifty day simple moving average is $98.42 and its 200-day simple moving average is $104.59.

Crown Castle (NYSE:CCI) last posted 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). 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%. Crown Castle’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.91 EPS. As a group, equities research analysts expect that Crown Castle Inc. will post 6.62 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.53%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s dividend payout ratio is 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.