Wrapmanager Inc. Sells 1,922 Shares of Crown Castle Inc. (NYSE:CCI)

Wrapmanager Inc. decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 29.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,528 shares of the real estate investment trust’s stock after selling 1,922 shares during the quarter. Wrapmanager Inc.’s holdings in Crown Castle were worth $522,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCI. Morgan Stanley raised its stake in shares of Crown Castle by 8.9% in the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock worth $1,203,648,000 after acquiring an additional 1,064,382 shares during the last quarter. FMR LLC lifted its holdings in Crown Castle by 14.3% during the 3rd quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock worth $1,098,526,000 after buying an additional 1,496,330 shares in the last quarter. Wellington Management Group LLP boosted its position in Crown Castle by 21.9% in the 3rd quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock valued at $932,682,000 after buying an additional 1,818,910 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Crown Castle by 42.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after buying an additional 2,121,603 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Crown Castle by 2.9% during the third quarter. Legal & General Group Plc now owns 5,568,481 shares of the real estate investment trust’s stock worth $512,467,000 after acquiring an additional 155,543 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Up 2.6 %

Shares of CCI stock traded up $2.56 on Thursday, hitting $99.88. 3,209,130 shares of the stock were exchanged, compared to its average volume of 2,904,880. The business has a 50-day moving average of $101.77 and a 200 day moving average of $105.57. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $119.60. The firm has a market capitalization of $43.40 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 2.59 and a beta of 0.76. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73.

Crown Castle (NYSE:CCI) 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). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm posted $1.91 earnings per share. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. Equities analysts anticipate that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.27%. Crown Castle’s dividend payout ratio is presently 195.63%.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of research reports. Barclays lifted their price objective on Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 23rd. Wells Fargo & Company cut their price objective on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Jefferies Financial Group lowered their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Scotiabank cut their price target 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. Finally, Royal Bank of Canada decreased their price objective on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a research note on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $112.64.

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.