Crown Castle Inc. (NYSE:CCI) Stake Lessened by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,482 shares of the real estate investment trust’s stock after selling 224 shares during the period. Institute for Wealth Management LLC.’s holdings in Crown Castle were worth $401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CCI. Norges Bank purchased a new stake in shares of Crown Castle during the fourth quarter worth $642,077,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Crown Castle by 90,084.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,487,430 shares of the real estate investment trust’s stock worth $473,035,000 after acquiring an additional 3,483,563 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Crown Castle by 42.8% during the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock worth $651,910,000 after acquiring an additional 2,121,603 shares in the last quarter. Barclays PLC raised its holdings in shares of Crown Castle by 217.9% during the third quarter. Barclays PLC now owns 3,058,133 shares of the real estate investment trust’s stock worth $281,439,000 after acquiring an additional 2,096,272 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Crown Castle by 21.9% during the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock worth $932,682,000 after acquiring an additional 1,818,910 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CCI. Bank of America cut their price objective on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Friday. Scotiabank cut their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a report on Thursday. Jefferies Financial Group cut their target price on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a report on Friday. Finally, Wells Fargo & Company cut their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $117.73.

Crown Castle Trading Up 0.9 %

Shares of NYSE:CCI opened at $95.20 on Friday. The company has a market cap of $41.37 billion, a P/E ratio of 29.75, a P/E/G ratio of 2.54 and a beta of 0.73. The stock’s 50-day moving average is $104.88 and its 200-day moving average is $105.22. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $131.43. 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 released its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business earned $1.91 earnings per share. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. Equities research analysts predict that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently 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.