Perpetual Ltd Reduces Position in Crown Castle Inc. (NYSE:CCI)

Perpetual Ltd lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,131 shares of the real estate investment trust’s stock after selling 279 shares during the period. Perpetual Ltd’s holdings in Crown Castle were worth $861,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. United Services Automobile Association grew its stake in Crown Castle by 23.1% during the 3rd quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock valued at $1,234,000 after acquiring an additional 2,516 shares in the last quarter. Fisher Asset Management LLC grew its stake in Crown Castle by 16.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock valued at $523,773,000 after acquiring an additional 632,398 shares in the last quarter. Court Place Advisors LLC purchased a new stake in Crown Castle during the 4th quarter valued at about $201,000. International Assets Investment Management LLC grew its stake in Crown Castle by 8,611.0% during the 4th quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock valued at $81,006,000 after acquiring an additional 695,163 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in shares of Crown Castle by 20.1% in the 4th quarter. Rafferty Asset Management LLC now owns 58,210 shares of the real estate investment trust’s stock valued at $6,705,000 after buying an additional 9,762 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Barclays increased their price target on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 23rd. BMO Capital Markets dropped 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 research note on Thursday, April 18th. Scotiabank dropped 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 research note on Thursday, April 18th. Finally, Wells Fargo & Company dropped their price target on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $114.21.

Crown Castle Price Performance

Shares of CCI opened at $96.40 on Friday. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $119.50. The firm’s fifty day simple moving average is $98.19 and its 200-day simple moving average is $105.58. The firm has a market capitalization of $41.89 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 2.53 and a beta of 0.82. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business posted $1.91 earnings per share. Crown Castle’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities analysts forecast that Crown Castle Inc. will post 6.62 EPS for the current fiscal year.

Crown Castle Dividend Announcement

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 issued a $1.565 dividend. The ex-dividend date is Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.49%. Crown Castle’s payout ratio is 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.