Crown Castle Inc. (NYSE:CCI) Shares Acquired by United Community Bank

United Community Bank grew its stake in Crown Castle Inc. (NYSE:CCIFree Report) by 28.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 615 shares of the real estate investment trust’s stock after buying an additional 135 shares during the period. United Community Bank’s holdings in Crown Castle were worth $71,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CCI. Operose Advisors LLC purchased a new stake in Crown Castle in the 3rd quarter valued at $30,000. Gables Capital Management Inc. raised its position in Crown Castle by 164.0% in the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 164 shares during the last quarter. Valley National Advisers Inc. raised its position in Crown Castle by 51.1% in the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 97 shares during the last quarter. SRS Capital Advisors Inc. raised its position in Crown Castle by 126.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 312 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 174 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its position in Crown Castle by 43.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CCI shares. Barclays upped their price objective on shares of Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 23rd. Bank of America cut their price objective on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. BMO Capital Markets cut their price target on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Scotiabank cut their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Finally, Royal Bank of Canada cut their price target on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a report on Tuesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $112.64.

Get Our Latest Stock Analysis on Crown Castle

Crown Castle Trading Up 2.9 %

NYSE CCI traded up $2.87 during mid-day trading on Friday, hitting $102.50. The company’s stock had a trading volume of 3,191,067 shares, compared to its average volume of 2,528,959. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50. The stock’s fifty day simple moving average is $98.93 and its two-hundred day simple moving average is $106.36. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $44.54 billion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 2.66 and a beta of 0.76.

Crown Castle (NYSE:CCIGet Free Report) last posted its quarterly earnings results 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 business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.91 EPS. Research analysts expect that Crown Castle Inc. will post 6.58 EPS for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.11%. Crown Castle’s dividend payout ratio is currently 195.63%.

Crown Castle Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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