Crown Castle Inc. (NYSE:CCI) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. raised its holdings in Crown Castle Inc. (NYSE:CCI) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,268 shares of the real estate investment trust’s stock after purchasing an additional 132 shares during the quarter. Whittier Trust Co.’s holdings in Crown Castle were worth $240,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. 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 purchasing an additional 632,398 shares during the period. Court Place Advisors LLC acquired a new position in Crown Castle in the fourth quarter valued at $201,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Crown Castle by 0.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock valued at $98,570,000 after purchasing an additional 8,136 shares during the period. Global Assets Advisory LLC acquired a new position in Crown Castle in the first quarter valued at $4,425,000. Finally, 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 purchasing an additional 695,163 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Up 0.4 %

Shares of NYSE CCI opened at $97.44 on Wednesday. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $119.50. The company has a market capitalization of $42.34 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 2.56 and a beta of 0.83. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. The firm’s 50-day moving average is $98.65 and its two-hundred day moving average is $103.72.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results 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 business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the company earned $1.91 EPS. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. Equities analysts anticipate that Crown Castle Inc. will post 6.62 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date was Friday, June 14th. Crown Castle’s dividend payout ratio is presently 195.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CCI shares. Scotiabank dropped their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. BMO Capital Markets dropped their price target on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research note on Thursday, April 18th. Bank of America dropped their price target 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. Deutsche Bank Aktiengesellschaft dropped their price target 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. Finally, Jefferies Financial Group dropped their price target 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. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $113.53.

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.