Western Wealth Management LLC Takes $201,000 Position in Crown Castle Inc. (NYSE:CCI)

Western Wealth Management LLC acquired a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the fourth quarter, HoldingsChannel reports. The firm acquired 1,741 shares of the real estate investment trust’s stock, valued at approximately $201,000.

A number of other institutional investors have also recently made changes to their positions in the company. Morgan Stanley grew its position in shares of Crown Castle by 8.9% during the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after purchasing an additional 1,064,382 shares in the last quarter. FMR LLC grew its position in shares of Crown Castle by 14.3% during the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock valued at $1,098,526,000 after purchasing an additional 1,496,330 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Crown Castle by 21.9% during the third 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 purchasing an additional 1,818,910 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Crown Castle by 42.8% during the third 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 purchasing an additional 2,121,603 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Crown Castle by 2.9% during the third quarter. Legal & General Group Plc now owns 5,568,481 shares of the real estate investment trust’s stock valued at $512,467,000 after purchasing an additional 155,543 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 0.1 %

Shares of NYSE CCI opened at $95.08 on Tuesday. The firm has a 50-day simple moving average of $104.62 and a two-hundred day simple moving average of $105.37. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $128.27. The company has a market cap of $41.31 billion, a P/E ratio of 29.71, a PEG ratio of 2.53 and a beta of 0.73.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results 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 company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm posted $1.91 EPS. The business’s revenue was down 7.4% on a year-over-year basis. Research analysts anticipate that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.58%. The ex-dividend date was Thursday, March 14th. Crown Castle’s dividend payout ratio is presently 195.63%.

Wall Street Analysts Forecast Growth

CCI has been the subject of several recent research reports. Royal Bank of Canada lifted their price target on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 21st. Wells Fargo & Company dropped their price target on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday. BMO Capital Markets dropped their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft dropped their price target on Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday. Finally, Bank of America dropped their price target on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.57.

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.