Crown Castle Inc. (NYSE:CCI) Shares Sold by Legacy Bridge LLC

Legacy Bridge LLC decreased its position in Crown Castle Inc. (NYSE:CCI – Get Rating) by 41.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,110 shares of the real estate investment trust’s stock after selling 3,605 shares during the period. Legacy Bridge LLC’s holdings in Crown Castle were worth $693,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Johnson Financial Group Inc. grew its holdings in Crown Castle by 210.8% in the second quarter. Johnson Financial Group Inc. now owns 230 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 156 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new stake in shares of Crown Castle during the second quarter valued at $1,173,000. UBS Oconnor LLC boosted its stake in shares of Crown Castle by 99.2% during the third quarter. UBS Oconnor LLC now owns 107,248 shares of the real estate investment trust’s stock valued at $15,503,000 after acquiring an additional 53,421 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Crown Castle by 0.8% during the third quarter. State of Alaska Department of Revenue now owns 276,761 shares of the real estate investment trust’s stock valued at $40,004,000 after acquiring an additional 2,314 shares during the last quarter. Finally, Financial Counselors Inc. boosted its stake in shares of Crown Castle by 1.1% during the third quarter. Financial Counselors Inc. now owns 134,499 shares of the real estate investment trust’s stock valued at $19,442,000 after acquiring an additional 1,489 shares during the last quarter. Institutional investors and hedge funds own 90.27% of the company’s stock.

Analyst Ratings Changes

CCI has been the topic of a number of analyst reports. Cowen increased their price objective on Crown Castle from $149.00 to $152.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. StockNews.com initiated coverage on Crown Castle in a research note on Thursday. They set a “hold” rating on the stock. Raymond James increased their price objective on Crown Castle from $153.00 to $154.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Truist Financial decreased their price target on Crown Castle from $230.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Crown Castle from $137.00 to $142.00 in a research note on Friday, December 16th. One analyst has 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.36.

Crown Castle Stock Performance

Crown Castle stock opened at $130.26 on Friday. The stock’s 50-day moving average is $140.04 and its 200-day moving average is $141.55. The company has a market cap of $56.46 billion, a price-to-earnings ratio of 33.75 and a beta of 0.65. The company has a debt-to-equity ratio of 2.81, a current ratio of 0.45 and a quick ratio of 0.45. Crown Castle Inc. has a 12 month low of $121.71 and a 12 month high of $199.97.

Crown Castle (NYSE:CCI – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The real estate investment trust reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.83). The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Crown Castle had a return on equity of 21.58% and a net margin of 23.96%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.77 earnings per share. Equities analysts anticipate that Crown Castle Inc. will post 7.26 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be issued a dividend of $1.565 per share. The ex-dividend date is Tuesday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 4.81%. Crown Castle’s payout ratio is currently 162.18%.

About Crown Castle

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Crown Castle, Inc is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the Towers and Fiber segments. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.