Clearstead Advisors LLC Has $578,000 Stock Position in Crown Castle Inc. (NYSE:CCI)

Clearstead Advisors LLC lowered its holdings in shares of Crown Castle Inc. (NYSE:CCI – Get Rating) by 12.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,998 shares of the real estate investment trust’s stock after selling 562 shares during the period. Clearstead Advisors LLC’s holdings in Crown Castle were worth $578,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. RMB Capital Management LLC raised its stake in shares of Crown Castle by 1.6% in the second quarter. RMB Capital Management LLC now owns 3,478 shares of the real estate investment trust’s stock valued at $586,000 after buying an additional 56 shares during the period. Confluence Wealth Services Inc. raised its stake in shares of Crown Castle by 1.4% in the second quarter. Confluence Wealth Services Inc. now owns 4,496 shares of the real estate investment trust’s stock valued at $804,000 after buying an additional 60 shares during the period. GHP Investment Advisors Inc. grew its position in shares of Crown Castle by 5.9% in the second quarter. GHP Investment Advisors Inc. now owns 1,112 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 62 shares in the last quarter. Taylor Frigon Capital Management LLC grew its position in shares of Crown Castle by 1.1% in the third quarter. Taylor Frigon Capital Management LLC now owns 7,582 shares of the real estate investment trust’s stock valued at $1,096,000 after purchasing an additional 79 shares in the last quarter. Finally, Fiduciary Trust Co. grew its position in shares of Crown Castle by 0.6% in the third quarter. Fiduciary Trust Co. now owns 13,599 shares of the real estate investment trust’s stock valued at $1,966,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 90.27% of the company’s stock.

Crown Castle Price Performance

CCI opened at $131.15 on Wednesday. The stock has a 50-day moving average price of $140.73 and a 200-day moving average price of $142.18. Crown Castle Inc. has a 12-month low of $121.71 and a 12-month high of $199.97. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 2.81. The stock has a market capitalization of $56.85 billion, a P/E ratio of 33.98 and a beta of 0.65.

Crown Castle (NYSE:CCI – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.83). Crown Castle had a return on equity of 21.58% and a net margin of 23.96%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the company posted $1.77 earnings per share. Crown Castle’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities analysts predict that Crown Castle Inc. will post 7.26 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Tuesday, March 14th. Crown Castle’s payout ratio is currently 162.18%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CCI shares. Barclays lifted their price target on Crown Castle from $152.00 to $153.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 8th. Cowen lifted their price target on Crown Castle from $149.00 to $152.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. Truist Financial reduced their price target on Crown Castle from $230.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, January 13th. Raymond James lifted their price target on Crown Castle from $153.00 to $154.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Crown Castle from $137.00 to $142.00 in a research report on Friday, December 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.36.

Crown Castle Profile

(Get Rating)

Crown Castle, Inc is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the Towers and Fiber segments. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.