Syon Capital LLC Boosts Stock Position in Crown Castle Inc. (NYSE:CCI)

Syon Capital LLC grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 10.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,005 shares of the real estate investment trust’s stock after purchasing an additional 294 shares during the quarter. Syon Capital LLC’s holdings in Crown Castle were worth $346,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its position in shares of Crown Castle by 6.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 195,439 shares of the real estate investment trust’s stock valued at $17,986,000 after acquiring an additional 11,354 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Crown Castle by 0.4% during the third quarter. Handelsbanken Fonder AB now owns 201,814 shares of the real estate investment trust’s stock worth $18,573,000 after acquiring an additional 888 shares in the last quarter. Clarius Group LLC boosted its holdings in shares of Crown Castle by 25.0% in the third quarter. Clarius Group LLC now owns 4,112 shares of the real estate investment trust’s stock worth $378,000 after acquiring an additional 823 shares during the period. Trust Co. of Toledo NA OH raised its stake in shares of Crown Castle by 18.2% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 6,255 shares of the real estate investment trust’s stock valued at $576,000 after purchasing an additional 961 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in shares of Crown Castle by 122.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 5,521 shares of the real estate investment trust’s stock valued at $508,000 after purchasing an additional 3,034 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CCI has been the subject of a number of recent analyst reports. Scotiabank reduced their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Royal Bank of Canada increased 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 note on Wednesday, February 21st. Barclays raised their target price on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 23rd. BMO Capital Markets cut their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Finally, Jefferies Financial Group decreased 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. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $113.29.

Crown Castle Stock Down 0.7 %

CCI stock opened at $93.58 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The business has a 50 day moving average of $103.65 and a 200 day moving average of $105.34. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $123.79. The firm has a market cap of $40.66 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 2.49 and a beta of 0.73.

Crown Castle (NYSE:CCI) last released its quarterly earnings data 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 21.30%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the business posted $1.91 earnings per share. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, research analysts forecast that Crown Castle Inc. will post 6.59 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s payout ratio is 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.