Accurate Wealth Management LLC Acquires 124 Shares of Crown Castle Inc. (NYSE:CCI)

Accurate Wealth Management LLC raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,429 shares of the real estate investment trust’s stock after purchasing an additional 124 shares during the quarter. Accurate Wealth Management LLC’s holdings in Crown Castle were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Fiduciary Financial Group LLC grew its position in Crown Castle by 6.0% in the fourth quarter. Fiduciary Financial Group LLC now owns 3,246 shares of the real estate investment trust’s stock valued at $274,000 after acquiring an additional 184 shares during the period. Ignite Planners LLC grew its holdings in shares of Crown Castle by 4.5% in the 4th quarter. Ignite Planners LLC now owns 7,574 shares of the real estate investment trust’s stock worth $682,000 after purchasing an additional 324 shares during the last quarter. FNY Investment Advisers LLC increased its position in shares of Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in Crown Castle by 46.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,165 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 370 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its position in Crown Castle by 19.1% in the fourth quarter. Capital Investment Advisors LLC now owns 84,925 shares of the real estate investment trust’s stock valued at $7,708,000 after buying an additional 13,623 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Up 4.6 %

NYSE:CCI opened at $90.67 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The stock’s fifty day simple moving average is $97.23 and its 200-day simple moving average is $105.67. The firm has a market capitalization of $39.40 billion, a P/E ratio of 32.15 and a beta of 0.87.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted $1.77 EPS. Equities research 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 disclosed 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 6.90%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CCI. Wells Fargo & Company cut shares of Crown Castle from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $105.00 to $100.00 in a research note on Tuesday, December 10th. Citigroup set a $128.00 price objective on Crown Castle in a research note on Thursday, October 17th. Royal Bank of Canada raised their target price on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. The Goldman Sachs Group upped their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price objective for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $113.00.

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.