Brookstone Capital Management Grows Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Brookstone Capital Management raised its holdings in Crown Castle Inc. (NYSE:CCI) by 2,316.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,409 shares of the real estate investment trust’s stock after purchasing an additional 80,916 shares during the quarter. Brookstone Capital Management’s holdings in Crown Castle were worth $8,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Dakota Community Bank & Trust NA boosted its holdings in Crown Castle by 4.2% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock valued at $204,000 after purchasing an additional 90 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in Crown Castle by 51.1% in the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 97 shares in the last quarter. Pinnacle Bancorp Inc. boosted its holdings in Crown Castle by 17.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 677 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 100 shares in the last quarter. Waterfront Wealth Inc. boosted its holdings in Crown Castle by 1.9% in the 4th quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock valued at $635,000 after purchasing an additional 101 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its holdings in Crown Castle by 0.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 18,986 shares of the real estate investment trust’s stock valued at $1,747,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays lifted their price target on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 23rd. Scotiabank reduced their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Argus downgraded shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Wells Fargo & Company reduced their price target on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. Finally, Jefferies Financial Group reduced their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and an average price target of $114.21.

Crown Castle Trading Up 1.5 %

Shares of CCI opened at $97.41 on Friday. The stock has a fifty day moving average of $98.31 and a two-hundred day moving average of $104.90. 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 company has a market capitalization of $42.33 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 2.54 and a beta of 0.82. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $119.50.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data 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). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the firm earned $1.91 earnings per share. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. As a group, analysts forecast that Crown Castle Inc. will post 6.62 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.43%. Crown Castle’s dividend 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.