MV Capital Management Inc. raised its holdings in Crown Castle Inc. (NYSE:CCI – Get Rating) by 52.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 658 shares of the real estate investment trust’s stock after acquiring an additional 227 shares during the period. MV Capital Management Inc.’s holdings in Crown Castle were worth $89,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Cohen & Steers Inc. grew its position in Crown Castle by 64.2% during the 3rd quarter. Cohen & Steers Inc. now owns 8,335,213 shares of the real estate investment trust’s stock worth $1,204,827,000 after acquiring an additional 3,258,264 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Crown Castle by 26.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,577,218 shares of the real estate investment trust’s stock worth $602,332,000 after purchasing an additional 752,420 shares during the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of Crown Castle in the third quarter valued at approximately $81,419,000. M&G Investment Management Ltd. raised its holdings in Crown Castle by 36.4% in the 4th quarter. M&G Investment Management Ltd. now owns 1,691,131 shares of the real estate investment trust’s stock valued at $229,994,000 after buying an additional 451,665 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Crown Castle by 1.3% during the 3rd quarter. BlackRock Inc. now owns 33,676,811 shares of the real estate investment trust’s stock worth $4,867,983,000 after buying an additional 445,642 shares during the period. Institutional investors and hedge funds own 90.27% of the company’s stock.
Wall Street Analysts Forecast Growth
CCI has been the subject of several analyst reports. StockNews.com began coverage on shares of Crown Castle in a research note on Thursday, March 16th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their target price on Crown Castle from $137.00 to $142.00 in a report on Friday, December 16th. Raymond James upped their price target on Crown Castle from $153.00 to $154.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. Cowen raised their price objective on Crown Castle from $149.00 to $152.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th. Finally, Moffett Nathanson upgraded Crown Castle from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $161.00 to $155.00 in a report on Thursday, March 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and a consensus target price of $159.07.
Crown Castle Stock Performance
Crown Castle (NYSE:CCI – Get Rating) last issued its earnings results 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). Crown Castle had a net margin of 23.96% and a return on equity of 21.58%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 7.26 EPS for the current year.
Crown Castle Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Tuesday, March 14th. Crown Castle’s dividend payout ratio 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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