Intrust Bank NA Increases Stock Position in Crown Castle Inc. (NYSE:CCI)

Intrust Bank NA boosted its stake in Crown Castle Inc. (NYSE:CCI) by 19.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,514 shares of the real estate investment trust’s stock after purchasing an additional 578 shares during the quarter. Intrust Bank NA’s holdings in Crown Castle were worth $405,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in shares of Crown Castle by 42.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after buying an additional 2,121,603 shares in the last quarter. Barclays PLC raised its position in shares of Crown Castle by 217.9% during the 3rd quarter. Barclays PLC now owns 3,058,133 shares of the real estate investment trust’s stock valued at $281,439,000 after buying an additional 2,096,272 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Crown Castle by 21.9% during the 3rd quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock valued at $932,682,000 after buying an additional 1,818,910 shares in the last quarter. FMR LLC raised its position in shares of Crown Castle by 14.3% during the 3rd quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock valued at $1,098,526,000 after buying an additional 1,496,330 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Crown Castle by 8.9% during the 3rd quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after buying an additional 1,064,382 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CCI shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Argus downgraded shares of Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Royal Bank of Canada upped their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a report on Wednesday, February 21st. Jefferies Financial Group cut their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, BMO Capital Markets cut 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 report on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.29.

Crown Castle Price Performance

Shares of CCI stock opened at $95.23 on Thursday. 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 company has a market capitalization of $41.38 billion, a P/E ratio of 29.76, a P/E/G ratio of 2.50 and a beta of 0.76. The company’s 50-day simple moving average is $102.84 and its two-hundred day simple moving average is $105.34. Crown Castle Inc. has a one year low of $84.72 and a one year high of $122.97.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company earned $1.91 earnings per share. Crown Castle’s revenue was down 7.4% on a year-over-year basis. As a group, equities analysts anticipate that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 annualized dividend and a dividend yield of 6.57%. Crown Castle’s payout ratio is presently 195.63%.

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.