Crown Castle Inc. (NYSE:CCI) Shares Bought by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 13.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,769 shares of the real estate investment trust’s stock after buying an additional 2,171 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Crown Castle were worth $1,703,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nordea Investment Management AB raised its stake in shares of Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after buying an additional 282,821 shares during the period. Van ECK Associates Corp increased its position in shares of Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after purchasing an additional 31,319 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Crown Castle during the fourth quarter worth approximately $1,231,000. Fisher Asset Management LLC increased its position in shares of Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after purchasing an additional 203,442 shares in the last quarter. Finally, Citizens Business Bank purchased a new stake in shares of Crown Castle during the third quarter worth approximately $620,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

CCI opened at $91.03 on Friday. The stock’s 50-day moving average price is $96.96 and its 200 day moving average price is $105.57. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market cap of $39.56 billion, a price-to-earnings ratio of 32.28 and a beta of 0.87.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the company posted $1.77 EPS. Crown Castle’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.88%. The ex-dividend date was Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CCI shares. The Goldman Sachs Group upped their target price on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. upped their target price on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $105.00 to $100.00 in a report on Tuesday, December 10th. Finally, Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $117.00 to $104.00 in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average target price of $113.00.

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.