Grassi Investment Management Has $2.13 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Grassi Investment Management lowered its position in Crown Castle Inc. (NYSE:CCIFree Report) by 4.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,135 shares of the real estate investment trust’s stock after selling 918 shares during the period. Grassi Investment Management’s holdings in Crown Castle were worth $2,131,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CCI. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Crown Castle in the fourth quarter worth about $25,000. Operose Advisors LLC purchased a new position in Crown Castle during the 3rd quarter valued at about $30,000. Gables Capital Management Inc. grew its stake in Crown Castle by 164.0% during the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 164 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in Crown Castle during the 4th quarter worth approximately $30,000. Finally, Valley National Advisers Inc. lifted its stake in Crown Castle by 51.1% in the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Raymond James reaffirmed an “outperform” rating and set a $126.00 price objective (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Argus cut Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Bank of America dropped their price target on 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, BMO Capital Markets reduced their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research report on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $114.21.

Get Our Latest Stock Report on CCI

Crown Castle Stock Up 0.6 %

Shares of NYSE:CCI traded up $0.61 during trading on Friday, hitting $97.02. The stock had a trading volume of 1,123,122 shares, compared to its average volume of 2,797,846. The company has a market capitalization of $42.16 billion, a PE ratio of 30.13, a PEG ratio of 2.53 and a beta of 0.82. 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 firm’s fifty day moving average is $98.19 and its 200 day moving average is $105.58. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $119.50.

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 the consensus estimate of $1.63 by ($0.92). The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The firm’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.91 earnings per share. Analysts anticipate that Crown Castle Inc. will post 6.62 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.45%. The ex-dividend date is Friday, June 14th. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Crown Castle Company 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.

See Also

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

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