Leisure Capital Management Purchases Shares of 7,983 Crown Castle Inc. (NYSE:CCI)

Leisure Capital Management purchased a new stake in Crown Castle Inc. (NYSE:CCI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,983 shares of the real estate investment trust’s stock, valued at approximately $920,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Valley National Advisers Inc. lifted its position in shares of Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 97 shares during the last quarter. Operose Advisors LLC acquired a new stake in shares of Crown Castle in the third quarter valued at approximately $30,000. Rosenberg Matthew Hamilton lifted its position in shares of Crown Castle by 43.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 113 shares during the last quarter. HHM Wealth Advisors LLC lifted its position in shares of Crown Castle by 154.8% in the third quarter. HHM Wealth Advisors LLC now owns 395 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 240 shares during the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $47,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CCI shares. BMO Capital Markets cut their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. 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 report on Friday, April 19th. Royal Bank of Canada lifted their price target on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 21st. Jefferies Financial Group lowered their price objective on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, Scotiabank lowered their price objective on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $113.29.

Crown Castle Price Performance

CCI stock traded down $0.63 during midday trading on Friday, reaching $93.58. 2,697,322 shares of the stock were exchanged, compared to its average volume of 2,940,738. The stock has a market capitalization of $40.66 billion, a PE ratio of 29.24, a P/E/G ratio of 2.51 and a beta of 0.73. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $123.79. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. The company has a fifty day moving average price of $103.65 and a 200 day moving average price of $105.25.

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

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 of this dividend was Thursday, March 14th. Crown Castle’s payout ratio is presently 195.63%.

Crown Castle Company Profile

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.