Transcend Capital Advisors LLC Increases Position in Crown Castle Inc. (NYSE:CCI)

Transcend Capital Advisors LLC boosted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 17.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,763 shares of the real estate investment trust’s stock after purchasing an additional 409 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Crown Castle were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Dakota Community Bank & Trust NA raised its holdings in Crown Castle by 4.2% during the third quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock worth $204,000 after purchasing 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 acquiring an additional 97 shares during the last quarter. Pinnacle Bancorp Inc. increased its holdings in Crown Castle by 17.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 677 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 100 shares in the last quarter. Waterfront Wealth Inc. lifted its holdings in shares of Crown Castle by 1.9% in the fourth quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock valued at $635,000 after purchasing an additional 101 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its position in shares of Crown Castle by 0.5% in the third quarter. Raleigh Capital Management Inc. now owns 18,986 shares of the real estate investment trust’s stock valued at $1,747,000 after purchasing an additional 103 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CCI shares. Jefferies Financial Group lowered their target price on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada raised their price target on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Barclays raised their target price on shares of Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 23rd. Finally, Bank of America cut their price target on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $113.29.

Crown Castle Trading Up 1.9 %

NYSE:CCI opened at $95.32 on Tuesday. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $123.31. The business’s 50-day moving average is $103.39 and its two-hundred day moving average is $105.42. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. The firm has a market capitalization of $41.42 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 2.49 and a beta of 0.73.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The firm’s revenue was down 7.4% compared to the same quarter last year. During the same period last year, the business earned $1.91 EPS. Research analysts predict that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid 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 6.57%. Crown Castle’s dividend payout ratio is presently 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.