Green Alpha Advisors LLC Acquires 2,101 Shares of Crown Castle Inc. (NYSE:CCI)

Green Alpha Advisors LLC raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 16.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 14,845 shares of the real estate investment trust’s stock after acquiring an additional 2,101 shares during the period. Green Alpha Advisors LLC’s holdings in Crown Castle were worth $1,347,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. State Street Corp increased its holdings in Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after buying an additional 3,371,186 shares during the period. Geode Capital Management LLC increased its stake in shares of Crown Castle by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after acquiring an additional 151,990 shares during the last quarter. Legal & General Group Plc raised its position in shares of Crown Castle by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after acquiring an additional 67,072 shares during the period. Finally, Barclays PLC boosted its stake in Crown Castle by 7.2% during the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after acquiring an additional 348,296 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of CCI opened at $84.31 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The stock has a market capitalization of $36.64 billion, a P/E ratio of 29.90 and a beta of 0.87. The company has a 50 day moving average of $98.47 and a 200-day moving average of $105.97.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the business posted $1.77 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities research analysts forecast that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 7.42%. Crown Castle’s payout ratio is presently 221.99%.

Analyst Ratings Changes

Several equities research analysts have commented on CCI shares. TD Cowen lowered their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Citigroup set a $128.00 target price on Crown Castle in a report on Thursday, October 17th. Wells Fargo & Company downgraded Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $105.00 to $100.00 in a report on Tuesday, December 10th. Finally, UBS Group lifted their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $113.00.

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.