Crown Castle Inc. (NYSE:CCI) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lowered its stake in shares of Crown Castle Inc. (NYSE:CCIFree Report) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,498 shares of the real estate investment trust’s stock after selling 1,692 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Crown Castle were worth $3,743,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CCI. Magnolia Capital Advisors LLC lifted its stake in Crown Castle by 3.2% during the fourth quarter. Magnolia Capital Advisors LLC now owns 2,375 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 73 shares during the last quarter. Summit Financial Group Inc. increased its position in Crown Castle by 5.5% in the third quarter. Summit Financial Group Inc. now owns 1,638 shares of the real estate investment trust’s stock worth $237,000 after buying an additional 85 shares during the period. Orion Portfolio Solutions LLC increased its position in Crown Castle by 2.4% in the first quarter. Orion Portfolio Solutions LLC now owns 3,678 shares of the real estate investment trust’s stock worth $679,000 after buying an additional 86 shares during the period. Townsend & Associates Inc increased its position in Crown Castle by 5.7% in the fourth quarter. Townsend & Associates Inc now owns 1,682 shares of the real estate investment trust’s stock worth $238,000 after buying an additional 90 shares during the period. Finally, Dakota Community Bank & Trust NA increased its position in Crown Castle by 4.2% in the third quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the topic of several analyst reports. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group lowered their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank of Canada raised their price target on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a report on Wednesday, February 21st. Wells Fargo & Company lowered their price target on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Scotiabank lowered their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $117.73.

Check Out Our Latest Research Report on CCI

Crown Castle Trading Up 0.9 %

NYSE:CCI opened at $95.20 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. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $131.43. The firm has a market capitalization of $41.37 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 2.54 and a beta of 0.73. The stock has a fifty day simple moving average of $104.88 and a 200 day simple moving average of $105.22.

Crown Castle (NYSE:CCIGet Free Report) last released 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 21.30%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business earned $1.91 EPS. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. Sell-side analysts forecast that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 dividend on an annualized basis and a yield of 6.58%. Crown Castle’s payout ratio is presently 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.

Further Reading

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

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