Thomas Story & Son LLC Boosts Holdings in Crown Castle Inc. (NYSE:CCI)

Thomas Story & Son LLC raised its stake in shares of Crown Castle Inc. (NYSE:CCIFree Report) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,741 shares of the real estate investment trust’s stock after purchasing an additional 150 shares during the period. Crown Castle accounts for 2.7% of Thomas Story & Son LLC’s holdings, making the stock its 14th biggest position. Thomas Story & Son LLC’s holdings in Crown Castle were worth $5,845,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Syon Capital LLC lifted its stake in shares of Crown Castle by 10.8% in the fourth quarter. Syon Capital LLC now owns 3,005 shares of the real estate investment trust’s stock worth $346,000 after buying an additional 294 shares in the last quarter. Centaurus Financial Inc. lifted its stake in shares of Crown Castle by 114.5% in the fourth quarter. Centaurus Financial Inc. now owns 4,341 shares of the real estate investment trust’s stock worth $500,000 after buying an additional 2,317 shares in the last quarter. Beacon Financial Group purchased a new position in shares of Crown Castle in the fourth quarter worth about $764,000. Scarborough Advisors LLC purchased a new position in shares of Crown Castle in the fourth quarter worth about $43,000. Finally, Napa Wealth Management purchased a new position in shares of Crown Castle in the fourth quarter worth about $306,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CCI shares. Royal Bank of Canada cut their price objective on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 7th. Jefferies Financial Group cut their price objective on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. BMO Capital Markets cut their price objective on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Barclays lifted their price target on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 23rd. Finally, Bank of America dropped their price target on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $114.21.

Get Our Latest Stock Report on Crown Castle

Crown Castle Stock Up 0.8 %

Crown Castle stock traded up $0.82 during trading on Friday, reaching $99.10. The stock had a trading volume of 2,013,641 shares, compared to its average volume of 2,309,722. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50. The business has a 50 day moving average price of $98.45 and a 200 day moving average price of $106.09. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The stock has a market cap of $43.06 billion, a PE ratio of 30.97, a P/E/G ratio of 2.63 and a beta of 0.82.

Crown Castle (NYSE:CCIGet Free Report) last issued its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. The firm’s revenue was down 7.4% compared to the same quarter last year. On average, analysts predict that Crown Castle Inc. will post 6.63 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.32%. Crown Castle’s dividend payout ratio is currently 195.63%.

Crown Castle Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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