SageView Advisory Group LLC Has $612,000 Stake in Crown Castle Inc. (NYSE:CCI)

SageView Advisory Group LLC increased its holdings in Crown Castle Inc. (NYSE:CCI) by 65.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,665 shares of the real estate investment trust’s stock after buying an additional 2,240 shares during the period. SageView Advisory Group LLC’s holdings in Crown Castle were worth $612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. United Services Automobile Association increased its stake in Crown Castle by 23.1% in the third quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock valued at $1,234,000 after acquiring an additional 2,516 shares during the last quarter. Court Place Advisors LLC bought a new position in Crown Castle in the fourth quarter valued at approximately $201,000. Fisher Asset Management LLC increased its stake in Crown Castle by 16.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock valued at $523,773,000 after acquiring an additional 632,398 shares during the last quarter. International Assets Investment Management LLC increased 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 acquiring an additional 695,163 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its stake in Crown Castle by 20.1% in the fourth quarter. Rafferty Asset Management LLC now owns 58,210 shares of the real estate investment trust’s stock valued at $6,705,000 after acquiring an additional 9,762 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

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

Crown Castle (NYSE:CCI) last issued its quarterly earnings data 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 return on equity of 21.30% and a net margin of 20.32%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm earned $1.91 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. Sell-side analysts forecast that Crown Castle Inc. will post 6.62 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.57%. Crown Castle’s dividend payout ratio is 195.63%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CCI. Jefferies Financial Group decreased their price objective on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Bank of America decreased 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. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $114.21.

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.