Daiwa Securities Group Inc. Has $6.55 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Daiwa Securities Group Inc. raised its holdings in Crown Castle Inc. (NYSE:CCI) by 13.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,815 shares of the real estate investment trust’s stock after acquiring an additional 6,917 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Crown Castle were worth $6,545,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co lifted its stake in Crown Castle by 108.5% in the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 140 shares during the last quarter. Almanack Investment Partners LLC. bought a new position in shares of Crown Castle in the third quarter valued at approximately $28,000. PCA Investment Advisory Services Inc. bought a new position in shares of Crown Castle in the second quarter valued at approximately $29,000. Operose Advisors LLC bought a new position in shares of Crown Castle in the third quarter valued at approximately $30,000. Finally, Valley National Advisers Inc. raised its position in shares of Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 97 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Trading Up 1.4 %

Shares of Crown Castle stock opened at $94.37 on Friday. The company has a market capitalization of $41.01 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 2.48 and a beta of 0.73. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $134.09. The firm’s 50-day moving average price is $105.15 and its two-hundred day moving average price is $105.07.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share 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 20.78%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business posted $1.91 earnings per share. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, analysts forecast 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. 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 yield of 6.63%. Crown Castle’s dividend payout ratio is presently 195.63%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CCI shares. Scotiabank dropped their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday. BMO Capital Markets dropped their price target on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research report on Thursday. Royal Bank of Canada boosted their target price on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 21st. Finally, Jefferies Financial Group dropped their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Crown Castle has a consensus rating of “Hold” and a consensus price target of $119.40.

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.