HighPoint Advisor Group LLC Invests $743,000 in Crown Castle Inc. (NYSE:CCI)

HighPoint Advisor Group LLC acquired a new stake in Crown Castle Inc. (NYSE:CCI) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,448 shares of the real estate investment trust’s stock, valued at approximately $743,000.

A number of other hedge funds have also bought and sold shares of CCI. Ables Iannone Moore & Associates Inc. bought a new stake in Crown Castle during the fourth quarter valued at $25,000. Richardson Financial Services Inc. bought a new stake in shares of Crown Castle during the 4th quarter valued at about $30,000. Gables Capital Management Inc. boosted its position in shares of Crown Castle by 164.0% during the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 164 shares in the last quarter. Valley National Advisers Inc. lifted its stake in Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 97 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Crown Castle by 126.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 312 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 174 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 1.0 %

Shares of Crown Castle stock opened at $95.35 on Wednesday. The stock has a market capitalization of $41.43 billion, a P/E ratio of 29.80, a P/E/G ratio of 2.55 and a beta of 0.82. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42. The stock’s 50-day simple moving average is $98.24 and its 200 day simple moving average is $105.71.

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). The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. Crown Castle’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.91 EPS. As a group, research analysts anticipate that Crown Castle Inc. will post 6.62 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.57%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Wall Street Analyst Weigh In

CCI has been the topic of several research analyst reports. Bank of America cut their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Royal Bank of Canada lowered 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 report on Tuesday, May 7th. Barclays raised their price objective on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 23rd. Scotiabank cut their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Finally, Argus downgraded Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Eleven 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.com, Crown Castle has an average rating of “Hold” and an average price target of $114.21.

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.