Clearstead Advisors LLC cut its holdings in Crown Castle Inc. (NYSE:CCI – Get Rating) by 12.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,998 shares of the real estate investment trust’s stock after selling 562 shares during the quarter. Clearstead Advisors LLC’s holdings in Crown Castle were worth $578,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Moors & Cabot Inc. lifted its stake in Crown Castle by 3.4% in the 1st quarter. Moors & Cabot Inc. now owns 2,734 shares of the real estate investment trust’s stock valued at $505,000 after acquiring an additional 91 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Crown Castle by 33.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,954 shares of the real estate investment trust’s stock valued at $730,000 after acquiring an additional 991 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in Crown Castle by 4,497.6% in the 1st quarter. Loomis Sayles & Co. L P now owns 5,701 shares of the real estate investment trust’s stock valued at $1,052,000 after acquiring an additional 5,577 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Crown Castle by 12.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 4,802 shares of the real estate investment trust’s stock worth $886,000 after purchasing an additional 525 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Crown Castle by 205.9% during the 1st quarter. Covestor Ltd now owns 878 shares of the real estate investment trust’s stock worth $162,000 after purchasing an additional 591 shares in the last quarter. 90.27% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on CCI shares. Deutsche Bank Aktiengesellschaft upped their price objective on Crown Castle from $137.00 to $142.00 in a research note on Friday, December 16th. Barclays upped their price objective on Crown Castle from $152.00 to $153.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 8th. Cowen upped their price objective on Crown Castle from $149.00 to $152.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Royal Bank of Canada upped their price objective on Crown Castle from $150.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 31st. Finally, Truist Financial dropped their price objective 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and an average price target of $159.36.
Crown Castle Stock Performance
Crown Castle (NYSE:CCI – Get Rating) last released its earnings results on Wednesday, January 25th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.83). The company had revenue of $1.76 billion for the quarter, compared to analyst estimates 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 period last year, the company posted $1.77 earnings per share. On average, equities analysts forecast that Crown Castle Inc. will post 7.26 EPS for the current year.
Crown Castle Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Tuesday, March 14th. Crown Castle’s dividend payout ratio (DPR) is currently 162.18%.
Crown Castle Profile
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.
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