First Hawaiian Bank Purchases 1,206 Shares of Crown Castle Inc. (NYSE:CCI)

First Hawaiian Bank grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 28.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,394 shares of the real estate investment trust’s stock after buying an additional 1,206 shares during the period. First Hawaiian Bank’s holdings in Crown Castle were worth $490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in Crown Castle by 3.7% during the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after acquiring an additional 747,390 shares during the period. Wellington Management Group LLP grew its holdings in shares of Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after purchasing an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Crown Castle by 1.3% in the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock worth $1,434,229,000 after purchasing an additional 151,990 shares during the period. Legal & General Group Plc raised its stake in Crown Castle by 1.1% in the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after purchasing an additional 67,072 shares in the last quarter. Finally, Barclays PLC lifted its position in Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after purchasing an additional 348,296 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Down 3.6 %

CCI opened at $84.31 on Friday. The company’s 50 day moving average price is $98.47 and its two-hundred day moving average price is $105.90. The firm has a market capitalization of $36.64 billion, a price-to-earnings ratio of 29.90 and a beta of 0.87. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.77 earnings per share. As a group, research analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 7.42%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s payout ratio is presently 221.99%.

Analysts Set New Price Targets

Several brokerages have recently commented on CCI. Royal Bank of Canada boosted their target price on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Wells Fargo & Company downgraded shares of Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $105.00 to $100.00 in a research report on Tuesday, December 10th. UBS Group raised their target price on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. TD Cowen lowered their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price objective on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $113.93.

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.