Cornerstone Advisors LLC Buys Shares of 1,000 Crown Castle Inc. (NYSE:CCI)

Cornerstone Advisors LLC bought a new stake in shares of Crown Castle Inc. (NYSE:CCI) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,000 shares of the real estate investment trust’s stock, valued at approximately $106,000.

A number of other large investors also recently added to or reduced their stakes in CCI. Ables Iannone Moore & Associates Inc. acquired a new position in Crown Castle during the 4th quarter valued at about $25,000. Rational Advisors LLC bought a new stake in shares of Crown Castle in the 1st quarter valued at about $27,000. Gables Capital Management Inc. increased its stake in shares of Crown Castle by 164.0% in the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 164 shares during the last quarter. Richardson Financial Services Inc. bought a new stake in shares of Crown Castle in the 4th quarter valued at about $30,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Crown Castle in the 1st quarter valued at about $32,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of recent analyst reports. TD Cowen upped their price target on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday. Argus cut Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Jefferies Financial Group lowered their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. The Goldman Sachs Group began coverage on Crown Castle in a research note on Monday, July 1st. They issued a “neutral” rating and a $104.00 price target for the company. Finally, Bank of America increased their target price on Crown Castle from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $114.88.

Crown Castle Stock Up 0.0 %

Shares of CCI traded up $0.04 during mid-day trading on Friday, hitting $105.08. 3,313,683 shares of the company’s stock were exchanged, compared to its average volume of 2,507,992. The company has a market cap of $45.66 billion, a PE ratio of 32.84, a P/E/G ratio of 2.79 and a beta of 0.83. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $119.50. The company has a 50-day simple moving average of $99.62 and a 200 day simple moving average of $103.11. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.42.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period last year, the business earned $2.05 EPS. On average, research analysts forecast that Crown Castle Inc. will post 6.62 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.96%. The ex-dividend date was Friday, June 14th. Crown Castle’s payout ratio is presently 195.63%.

Crown Castle 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.