Spinnaker Trust Buys 234 Shares of Crown Castle Inc. (NYSE:CCI)

Spinnaker Trust boosted its stake in Crown Castle Inc. (NYSE:CCI) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,039 shares of the real estate investment trust’s stock after buying an additional 234 shares during the quarter. Spinnaker Trust’s holdings in Crown Castle were worth $2,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. United Services Automobile Association increased its holdings in shares of 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 worth $1,234,000 after acquiring an additional 2,516 shares in the last quarter. Court Place Advisors LLC bought a new position in Crown Castle during the 4th quarter worth $201,000. Van ECK Associates Corp boosted its holdings in shares of Crown Castle by 0.5% in the 3rd quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock valued at $10,852,000 after purchasing an additional 542 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Crown Castle by 8,611.0% during the 4th 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 acquiring an additional 695,163 shares in the last quarter. Finally, Manning & Napier Group LLC acquired a new position in Crown Castle during the 4th quarter worth about $5,005,000. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCI. Scotiabank decreased their price objective on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. 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 Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada upped their price objective on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 21st. Finally, Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $113.29.

Crown Castle Price Performance

Shares of NYSE:CCI traded down $0.63 during trading on Friday, reaching $93.58. The stock had a trading volume of 2,697,322 shares, compared to its average volume of 2,940,738. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $123.79. The business’s 50-day moving average price is $103.65 and its 200 day moving average price is $105.25. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. The stock has a market capitalization of $40.66 billion, a PE ratio of 29.24, a P/E/G ratio of 2.51 and a beta of 0.73.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). The company 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%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.91 earnings per share. As a group, equities analysts predict that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.69%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is 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.