SageView Advisory Group LLC Raises Position in Crown Castle Inc. (NYSE:CCI)

SageView Advisory Group LLC increased its holdings in Crown Castle Inc. (NYSE:CCI) by 65.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,665 shares of the real estate investment trust’s stock after acquiring an additional 2,240 shares during the quarter. SageView Advisory Group LLC’s holdings in Crown Castle were worth $612,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CCI. Norges Bank acquired a new position in shares of Crown Castle in the fourth quarter worth about $581,503,000. The Manufacturers Life Insurance Company lifted its stake in shares of Crown Castle by 42.8% in 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 lifted its stake in shares of Crown Castle by 217.9% in 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. Wellington Management Group LLP lifted its stake in shares of Crown Castle by 21.9% in 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. Finally, Mizuho Markets Americas LLC acquired a new position in shares of Crown Castle in the fourth quarter worth about $201,582,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Barclays increased their price target 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. Argus cut Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. BMO Capital Markets dropped their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research report on Thursday, April 18th. Finally, Royal Bank of Canada dropped their price target on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 7th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $112.64.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $98.12 on Monday. The stock has a fifty day moving average price of $99.42 and a two-hundred day moving average price of $106.35. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market cap of $42.64 billion, a P/E ratio of 30.66, a PEG ratio of 2.62 and a beta of 0.76. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $119.50.

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 analysts’ consensus estimates of $1.63 by ($0.92). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.91 earnings per share. Research analysts forecast that Crown Castle Inc. will post 6.58 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.38%. The ex-dividend date is Friday, June 14th. Crown Castle’s dividend payout ratio 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.