Commerce Bank lowered its stake in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 2.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 413,557 shares of the real estate investment trust’s stock after selling 8,560 shares during the quarter. Commerce Bank owned about 0.10% of Crown Castle worth $55,350,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Richard W. Paul & Associates LLC acquired a new position in shares of Crown Castle in the 4th quarter worth approximately $25,000. Almanack Investment Partners LLC. bought a new position in shares of Crown Castle in the 3rd quarter worth $28,000. Grey Fox Wealth Advisors LLC bought a new stake in Crown Castle in the fourth quarter valued at about $29,000. Centerpoint Advisors LLC bought a new position in Crown Castle during the first quarter worth about $29,000. Finally, ST Germain D J Co. Inc. acquired a new position in shares of Crown Castle during the 4th quarter worth about $31,000. 89.55% of the stock is currently owned by institutional investors.
Crown Castle Stock Down 0.0 %
Shares of Crown Castle stock traded down $0.04 on Tuesday, reaching $108.25. 3,796,632 shares of the company were exchanged, compared to its average volume of 2,453,676. The company has a market capitalization of $46.94 billion, a price-to-earnings ratio of 27.48 and a beta of 0.64. The company has a current ratio of 0.50, a quick ratio of 0.52 and a debt-to-equity ratio of 3.07. Crown Castle Inc. has a one year low of $103.22 and a one year high of $184.92. The company has a 50-day moving average of $113.00 and a 200 day moving average of $125.42.
Crown Castle (NYSE:CCI – Get Free Report) last posted its quarterly earnings results on Thursday, July 20th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.74). Crown Castle had a return on equity of 23.20% and a net margin of 23.85%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company posted $1.80 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that Crown Castle Inc. will post 7.13 earnings per share for the current year.
Crown Castle Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 5.78%. The ex-dividend date is Thursday, September 14th. Crown Castle’s payout ratio is currently 158.88%.
Analyst Ratings Changes
CCI has been the topic of several recent analyst reports. Raymond James reduced their price objective on shares of Crown Castle from $147.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, July 21st. BMO Capital Markets decreased their price target on shares of Crown Castle from C$113.00 to C$106.00 and set an “underperform” rating for the company in a report on Thursday, July 20th. Barclays reduced their target price on Crown Castle from $137.00 to $116.00 and set an “equal weight” rating on the stock in a report on Monday, July 24th. TheStreet downgraded Crown Castle from a “b-” rating to a “c+” rating in a report on Friday, May 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Crown Castle from $143.00 to $136.00 in a report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and an average target price of $140.06.
About Crown Castle
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 85,000 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.