Crown Castle Inc. (NYSE:CCI) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its position in Crown Castle Inc. (NYSE:CCI) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 931,397 shares of the real estate investment trust’s stock after purchasing an additional 8,136 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.21% of Crown Castle worth $98,570,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new position in Crown Castle during the 4th quarter worth approximately $25,000. Gables Capital Management Inc. lifted its position in 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 worth $30,000 after acquiring an additional 164 shares in the last quarter. Richardson Financial Services Inc. acquired a new position in Crown Castle during the 4th quarter worth approximately $30,000. Valley National Advisers Inc. lifted its position in Crown Castle by 51.1% during the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 97 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its position in 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 acquiring an additional 174 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on CCI shares. Barclays boosted their price target on Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 23rd. Argus downgraded Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. BMO Capital Markets dropped their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Wells Fargo & Company dropped their price objective on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft dropped 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. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average target price of $113.53.

Crown Castle Price Performance

Shares of NYSE CCI opened at $96.61 on Thursday. Crown Castle Inc. has a twelve month low of $84.72 and a twelve 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 capitalization of $41.98 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 2.53 and a beta of 0.83. The business has a 50 day simple moving average of $98.43 and a 200-day simple moving average of $104.33.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results 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). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. Crown Castle’s revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.91 earnings per share. As a group, equities research analysts expect that Crown Castle Inc. will post 6.62 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.48%. Crown Castle’s payout ratio is currently 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.