Crown Castle Inc. (NYSE:CCI) Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 58.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,189 shares of the real estate investment trust’s stock after buying an additional 5,252 shares during the period. Assetmark Inc.’s holdings in Crown Castle were worth $1,634,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. United Services Automobile Association boosted its stake in shares of Crown Castle by 23.1% during the third quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock worth $1,234,000 after buying an additional 2,516 shares during the period. Court Place Advisors LLC acquired a new stake in Crown Castle in the fourth quarter valued at about $201,000. Van ECK Associates Corp lifted its position in Crown Castle by 0.5% in the third quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock valued at $10,852,000 after purchasing an additional 542 shares during the period. International Assets Investment Management LLC lifted its position in Crown Castle by 8,611.0% in the fourth quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock valued at $81,006,000 after purchasing an additional 695,163 shares during the period. Finally, Manning & Napier Group LLC acquired a new stake in Crown Castle in the fourth quarter valued at about $5,005,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the subject of a number of recent analyst reports. BMO Capital Markets reduced their price objective 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 downgraded shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Jefferies Financial Group dropped 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. Finally, Bank of America dropped their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Crown Castle has an average rating of “Hold” and a consensus target price of $112.64.

Crown Castle Trading Down 0.9 %

Shares of CCI opened at $98.12 on Friday. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a 50 day simple moving average of $99.42 and a 200-day simple moving average of $106.28. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $119.50. The stock has a market cap of $42.64 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 2.62 and a beta of 0.76.

Crown Castle (NYSE:CCI) last issued 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 return on equity of 21.30% and a net margin of 20.32%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business earned $1.91 earnings per share. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. Equities analysts forecast that Crown Castle Inc. will post 6.58 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.26 annualized dividend and a yield of 6.38%. Crown Castle’s payout ratio is currently 195.63%.

Crown Castle 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.