Register Financial Advisors LLC Makes New $48,000 Investment in Crown Castle Inc. (NYSE:CCI)

Register Financial Advisors LLC acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 457 shares of the real estate investment trust’s stock, valued at approximately $48,000.

Several other hedge funds also recently made changes to their positions in CCI. Norges Bank purchased a new position in shares of Crown Castle during the fourth quarter worth about $581,503,000. The Manufacturers Life Insurance Company boosted its stake in shares of Crown Castle by 42.8% during the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock worth $651,910,000 after buying an additional 2,121,603 shares during the period. Wellington Management Group LLP boosted its stake in shares of Crown Castle by 21.9% during the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock worth $932,682,000 after buying an additional 1,818,910 shares during the period. Mizuho Markets Americas LLC acquired a new stake in shares of Crown Castle during the fourth quarter worth about $201,582,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Crown Castle by 18,200.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,651,456 shares of the real estate investment trust’s stock worth $190,231,000 after buying an additional 1,642,432 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI stock opened at $97.70 on Friday. The firm has a 50 day moving average of $98.42 and a 200-day moving average of $104.74. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $119.50. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73. The company has a market cap of $42.45 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.58 and a beta of 0.82.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.63 billion. During the same quarter in the previous year, the business posted $1.91 earnings per share. Crown Castle’s revenue was down 7.4% on a year-over-year basis. As a group, equities analysts expect that Crown Castle Inc. will post 6.62 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.41%. Crown Castle’s payout ratio is 195.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Argus downgraded shares of Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Wells Fargo & Company decreased their target price on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Jefferies Financial Group decreased their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. BMO Capital Markets decreased their target price on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reduced their price objective on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 7th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $114.21.

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.