Gateway Investment Advisers LLC Has $18.50 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Gateway Investment Advisers LLC cut its position in shares of Crown Castle Inc. (NYSE:CCI) by 6.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,830 shares of the real estate investment trust’s stock after selling 12,070 shares during the period. Gateway Investment Advisers LLC’s holdings in Crown Castle were worth $18,502,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Dakota Community Bank & Trust NA grew its stake in Crown Castle by 4.2% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 90 shares during the last quarter. Valley National Advisers Inc. grew its stake 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 buying an additional 97 shares during the last quarter. Pinnacle Bancorp Inc. grew its stake in Crown Castle by 17.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 677 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 100 shares during the last quarter. Waterfront Wealth Inc. grew its stake in Crown Castle by 1.9% in the 4th quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock valued at $635,000 after buying an additional 101 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its position in shares of Crown Castle by 0.5% during the 3rd quarter. Raleigh Capital Management Inc. now owns 18,986 shares of the real estate investment trust’s stock worth $1,747,000 after purchasing an additional 103 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CCI has been the subject of several recent research reports. Bank of America decreased their price target 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. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. BMO Capital Markets decreased 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 report on Thursday, April 18th. Barclays upped 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 report on Tuesday, April 23rd. Finally, Scotiabank decreased 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 report on Thursday, April 18th. Eleven 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 stock presently has a consensus rating of “Hold” and a consensus target price of $114.21.

Crown Castle Trading Down 1.8 %

NYSE:CCI opened at $95.63 on Wednesday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73. The stock has a market capitalization of $41.55 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 2.58 and a beta of 0.82. The firm has a fifty day simple moving average of $98.25 and a two-hundred day simple moving average of $104.97. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $119.50.

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

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date of this dividend is Friday, June 14th. Crown Castle’s payout ratio is 195.63%.

About Crown Castle

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.