FFT Wealth Management LLC Buys Shares of 1,922 Crown Castle Inc. (NYSE:CCI)

FFT Wealth Management LLC bought a new stake in Crown Castle Inc. (NYSE:CCI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,922 shares of the real estate investment trust’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CCI. Cambridge Investment Research Advisors Inc. raised its stake in shares of Crown Castle by 20.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 57,441 shares of the real estate investment trust’s stock worth $5,286,000 after buying an additional 9,635 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Crown Castle during the 3rd quarter worth $508,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Crown Castle by 7.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 94,450 shares of the real estate investment trust’s stock worth $8,692,000 after buying an additional 6,828 shares during the last quarter. Xponance Inc. raised its stake in shares of Crown Castle by 3.0% during the 3rd quarter. Xponance Inc. now owns 69,976 shares of the real estate investment trust’s stock worth $6,440,000 after buying an additional 2,007 shares during the last quarter. Finally, Tectonic Advisors LLC acquired a new position in shares of Crown Castle during the 3rd quarter worth $368,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE:CCI traded up $0.22 on Thursday, hitting $95.45. The company’s stock had a trading volume of 551,806 shares, compared to its average volume of 2,855,332. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $120.37. The company has a market capitalization of $41.47 billion, a price-to-earnings ratio of 29.76, a price-to-earnings-growth ratio of 2.50 and a beta of 0.76. The stock’s 50-day moving average is $102.84 and its two-hundred day moving average is $105.34. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share 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 firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the company earned $1.91 EPS. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.56%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company reduced their price target on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. Scotiabank cut their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Barclays upped their price objective on Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 23rd. Finally, 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 research note on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $113.29.

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.