Mirador Capital Partners LP Purchases Shares of 2,502 Crown Castle Inc. (NYSE:CCI)

Mirador Capital Partners LP acquired a new stake in Crown Castle Inc. (NYSE:CCI) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,502 shares of the real estate investment trust’s stock, valued at approximately $265,000.

Other large investors also recently modified their holdings of the company. Morgan Stanley grew its stake in Crown Castle by 8.9% in the 3rd quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after buying an additional 1,064,382 shares during the last quarter. Cohen & Steers Inc. increased its stake in shares of Crown Castle by 7.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock worth $1,310,559,000 after purchasing an additional 834,198 shares during the period. Wellington Management Group LLP increased its stake in shares of Crown Castle by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock worth $1,297,147,000 after purchasing an additional 1,126,394 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Crown Castle by 42.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock worth $651,910,000 after purchasing an additional 2,121,603 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Crown Castle by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 5,568,481 shares of the real estate investment trust’s stock valued at $512,467,000 after purchasing an additional 155,543 shares during the period. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCI has been the subject of a number of recent research reports. Bank of America reduced their target price 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. Jefferies Financial Group decreased their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. 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 report on Thursday, April 18th. Royal Bank of Canada reduced their price target on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 7th. Finally, Argus cut Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Crown Castle has a consensus rating of “Hold” and a consensus price target of $113.53.

Crown Castle Stock Down 1.8 %

Shares of NYSE CCI opened at $95.98 on Tuesday. The company has a market cap of $41.71 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 2.59 and a beta of 0.83. 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 Inc. has a 12 month low of $84.72 and a 12 month high of $119.50. The stock has a 50-day moving average price of $98.42 and a two-hundred day moving average price of $104.59.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data 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 company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. Crown Castle’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 EPS. As a group, analysts forecast that Crown Castle Inc. will post 6.62 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $1.565 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.52%. Crown Castle’s payout ratio is presently 195.63%.

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.