Crown Castle Inc. (NYSE:CCI) Shares Bought by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,568 shares of the real estate investment trust’s stock after acquiring an additional 258 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Crown Castle were worth $801,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in shares of Crown Castle by 42.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 817,353 shares of the real estate investment trust’s stock valued at $75,206,000 after buying an additional 244,890 shares during the period. Evergreen Capital Management LLC boosted its stake in Crown Castle by 55.7% in the third quarter. Evergreen Capital Management LLC now owns 6,471 shares of the real estate investment trust’s stock valued at $596,000 after acquiring an additional 2,314 shares during the period. Legal & General Group Plc boosted its stake in Crown Castle by 2.9% in the third 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 acquiring an additional 155,543 shares during the period. Kelly Lawrence W & Associates Inc. CA grew its holdings in shares of Crown Castle by 29.0% during the third quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,555 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 350 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Crown Castle by 8.2% during the 3rd quarter. Sei Investments Co. now owns 683,622 shares of the real estate investment trust’s stock worth $62,914,000 after purchasing an additional 51,970 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on CCI shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. The Goldman Sachs Group assumed coverage on shares of Crown Castle in a research note on Monday. They set a “neutral” rating and a $104.00 target price for the company. Jefferies Financial Group dropped their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Raymond James reiterated an “outperform” rating and set a $126.00 price objective (up from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Finally, Bank of America lowered their target price on Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $113.53.

Crown Castle Trading Up 1.4 %

Shares of CCI opened at $96.66 on Friday. The business’s 50-day moving average price is $98.51 and its 200 day moving average price is $104.22. 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 $42.00 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.56 and a beta of 0.83. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $119.50.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. The firm’s revenue was down 7.4% compared to the same quarter last year. Analysts expect that Crown Castle Inc. will post 6.62 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.48%. Crown Castle’s dividend payout ratio is 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.