Parkside Financial Bank & Trust Has $507,000 Holdings in Crown Castle Inc. (NYSE:CCI)

Parkside Financial Bank & Trust grew its position in Crown Castle Inc. (NYSE:CCI) by 41.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,401 shares of the real estate investment trust’s stock after purchasing an additional 1,286 shares during the period. Parkside Financial Bank & Trust’s holdings in Crown Castle were worth $507,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Riverview Trust Co increased its position in Crown Castle by 108.5% in the 3rd quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 140 shares during the last quarter. Operose Advisors LLC acquired a new position in Crown Castle in the 3rd quarter worth about $30,000. Valley National Advisers Inc. increased its position 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 worth $33,000 after purchasing an additional 97 shares during the last quarter. HHM Wealth Advisors LLC increased its position in Crown Castle by 154.8% in the 3rd quarter. HHM Wealth Advisors LLC now owns 395 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 240 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its holdings in shares of Crown Castle by 43.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 113 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of CCI stock traded up $0.03 during mid-day trading on Tuesday, reaching $95.11. The stock had a trading volume of 1,497,691 shares, compared to its average volume of 2,826,092. The firm’s 50 day simple moving average is $104.62 and its 200 day simple moving average is $105.37. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. Crown Castle Inc. has a one year low of $84.72 and a one year high of $128.27. The firm has a market cap of $41.33 billion, a PE ratio of 29.96, a P/E/G ratio of 2.53 and a beta of 0.73.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data 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 firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. Crown Castle’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.91 EPS. On average, analysts forecast that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.565 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.58%. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CCI. Scotiabank lowered their price objective on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Wells Fargo & Company lowered their price objective on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday. Jefferies Financial Group lowered their price objective on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday. Finally, BMO Capital Markets lowered their target price on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $113.29.

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.