Wolff Wiese Magana LLC Trims Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Wolff Wiese Magana LLC decreased its position in Crown Castle Inc. (NYSE:CCI) by 15.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,424 shares of the real estate investment trust’s stock after selling 2,337 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Crown Castle were worth $1,315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. 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 purchasing an additional 2,516 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Crown Castle by 16.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock worth $523,773,000 after acquiring an additional 632,398 shares during the period. Court Place Advisors LLC acquired a new stake in shares of Crown Castle in the fourth quarter worth approximately $201,000. Global Assets Advisory LLC purchased a new stake in Crown Castle in the first quarter valued at approximately $4,425,000. Finally, International Assets Investment Management LLC increased its position in Crown Castle by 8,611.0% during the fourth quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock worth $81,006,000 after purchasing an additional 695,163 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Down 1.6 %

Shares of CCI stock traded down $1.58 on Monday, hitting $96.12. The stock had a trading volume of 594,636 shares, compared to its average volume of 2,847,647. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50. The firm has a market capitalization of $41.77 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 2.59 and a beta of 0.83. 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 moving average is $98.42 and its 200-day moving average is $104.59.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share 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 firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company earned $1.91 earnings per share. The business’s quarterly revenue was down 7.4% on a year-over-year basis. As a group, research analysts expect that Crown Castle Inc. will post 6.62 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $1.565 per share. The ex-dividend date was Friday, June 14th. This represents a $6.26 annualized dividend and a yield of 6.51%. Crown Castle’s dividend payout ratio is presently 195.63%.

Analyst Ratings Changes

A number of brokerages have weighed in on CCI. Bank of America decreased their price target on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. BMO Capital Markets lowered their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft cut their price objective on Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Raymond James reiterated an “outperform” rating and set a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Finally, Barclays raised their price target on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Crown Castle currently has a consensus 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.