Allspring Global Investments Holdings LLC Purchases 19,000 Shares of Crown Castle Inc. (NYSE:CCI)

Allspring Global Investments Holdings LLC lifted its position in Crown Castle Inc. (NYSE:CCI) by 67.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,274 shares of the real estate investment trust’s stock after purchasing an additional 19,000 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Crown Castle were worth $5,446,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Moors & Cabot Inc. raised its holdings in shares of Crown Castle by 3.4% in the 1st quarter. Moors & Cabot Inc. now owns 2,734 shares of the real estate investment trust’s stock valued at $505,000 after acquiring an additional 91 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Crown Castle by 33.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,954 shares of the real estate investment trust’s stock worth $730,000 after buying an additional 991 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Crown Castle by 4,497.6% in the 1st quarter. Loomis Sayles & Co. L P now owns 5,701 shares of the real estate investment trust’s stock worth $1,052,000 after buying an additional 5,577 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Crown Castle by 12.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 4,802 shares of the real estate investment trust’s stock worth $886,000 after buying an additional 525 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Crown Castle by 205.9% during the 1st quarter. Covestor Ltd now owns 878 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 591 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.4 %

Shares of Crown Castle stock opened at $94.37 on Friday. The company’s fifty day simple moving average is $105.15 and its two-hundred day simple moving average is $105.07. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $134.09. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. The company has a market cap of $41.01 billion, a P/E ratio of 27.27, a PEG ratio of 2.50 and a beta of 0.73.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a net margin of 21.47% and a return on equity of 21.95%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. Crown Castle’s quarterly revenue was down 7.4% compared to the same quarter last year. Research analysts anticipate that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared 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. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.63%. Crown Castle’s dividend payout ratio is presently 180.92%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Jefferies Financial Group reduced their target price on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday. BMO Capital Markets dropped their target price on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday. Royal Bank of Canada upped their target price on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. Finally, Scotiabank decreased their target price on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $119.40.

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.