PNC Financial Services Group Inc. Boosts Stake in Crown Castle Inc. (NYSE:CCI)

PNC Financial Services Group Inc. boosted its position in Crown Castle Inc. (NYSE:CCIFree Report) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 329,980 shares of the real estate investment trust’s stock after purchasing an additional 26,880 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.08% of Crown Castle worth $38,010,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CCI. Operose Advisors LLC purchased a new position in Crown Castle during the 3rd quarter worth $30,000. Gables Capital Management Inc. grew its position in Crown Castle by 164.0% during the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 164 shares during the last quarter. Valley National Advisers Inc. increased its stake in Crown Castle by 51.1% during the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 97 shares in the last quarter. HHM Wealth Advisors LLC raised its holdings 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 worth $36,000 after buying an additional 240 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in shares of Crown Castle by 126.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 312 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 174 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CCI. Deutsche Bank Aktiengesellschaft reduced their target price on Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Wells Fargo & Company dropped their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. BMO Capital Markets reduced their price target on shares of 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. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Scotiabank cut their price objective on shares of 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Crown Castle presently has a consensus rating of “Hold” and an average price target of $112.64.

View Our Latest Stock Report on Crown Castle

Crown Castle Trading Down 2.2 %

CCI stock opened at $100.62 on Tuesday. The business’s 50-day moving average is $100.11 and its 200 day moving average is $106.28. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $119.50. The stock has a market cap of $43.72 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 2.74 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:CCIGet Free Report) last announced its quarterly earnings data 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 net margin of 20.32% and a return on equity of 21.30%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the business posted $1.91 EPS. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Crown Castle Inc. will post 6.58 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date was Thursday, March 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.

Further Reading

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

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