Atria Wealth Solutions Inc. Raises Holdings in Crown Castle Inc. (NYSE:CCI)

Atria Wealth Solutions Inc. grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,777 shares of the real estate investment trust’s stock after purchasing an additional 3,260 shares during the period. Atria Wealth Solutions Inc.’s holdings in Crown Castle were worth $3,891,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. lifted its holdings in shares of Crown Castle by 6.2% in 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 last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Crown Castle by 0.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 201,814 shares of the real estate investment trust’s stock valued at $18,573,000 after acquiring an additional 888 shares during the last quarter. Clarius Group LLC lifted its holdings in shares of Crown Castle by 25.0% in the 3rd quarter. Clarius Group LLC now owns 4,112 shares of the real estate investment trust’s stock valued at $378,000 after acquiring an additional 823 shares during the last quarter. Trust Co. of Toledo NA OH lifted its holdings in shares of Crown Castle by 18.2% in 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 acquiring an additional 961 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Crown Castle by 122.0% in 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 acquiring an additional 3,034 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Scotiabank decreased their price objective on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Jefferies Financial Group decreased 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 note on Thursday, April 18th. Royal Bank of Canada raised their price objective 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. Bank of America decreased their price objective on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Finally, Barclays raised their price objective on shares of Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle currently has an average rating of “Hold” and a consensus price target of $113.29.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $93.58 on Friday. 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. The firm’s 50 day simple moving average is $103.65 and its 200-day simple moving average is $105.34. Crown Castle Inc. has a one year low of $84.72 and a one year high of $123.79. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business’s revenue was down 7.4% compared to the same quarter last year. During the same period last year, the business posted $1.91 earnings per share. As a group, equities analysts predict that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.69%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is 195.63%.

About Crown Castle

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.