Level Four Advisory Services LLC Raises Stake in Crown Castle Inc. (NYSE:CCI)

Level Four Advisory Services LLC boosted its stake in Crown Castle Inc. (NYSE:CCIFree Report) by 32.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,184 shares of the real estate investment trust’s stock after acquiring an additional 777 shares during the period. Level Four Advisory Services LLC’s holdings in Crown Castle were worth $367,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCI. United Services Automobile Association lifted its position in shares of Crown Castle by 23.1% during the 3rd quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock valued at $1,234,000 after buying an additional 2,516 shares during the last quarter. Court Place Advisors LLC purchased a new stake in shares of Crown Castle during the 4th quarter valued at approximately $201,000. Van ECK Associates Corp boosted its holdings in Crown Castle by 0.5% in the 3rd quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock worth $10,852,000 after buying an additional 542 shares during the period. International Assets Investment Management LLC grew its stake in Crown Castle by 8,611.0% in the 4th 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 buying an additional 695,163 shares in the last quarter. Finally, Manning & Napier Group LLC bought a new stake in Crown Castle during the 4th quarter valued at $5,005,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

CCI opened at $100.21 on Thursday. The firm has a market cap of $43.54 billion, a PE ratio of 31.32, a P/E/G ratio of 2.69 and a beta of 0.76. The stock has a 50-day moving average price of $99.71 and a 200-day moving average price of $106.25. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $119.50. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42.

Crown Castle (NYSE:CCIGet Free Report) last issued its 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). The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period last year, the firm posted $1.91 earnings per share. Sell-side analysts predict that Crown Castle Inc. will post 6.58 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.25%. Crown Castle’s dividend payout ratio is presently 195.63%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CCI shares. Scotiabank reduced their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Wells Fargo & Company reduced their price objective on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. BMO Capital Markets lowered their price objective 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. Royal Bank of Canada dropped their price objective on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 7th. Finally, Barclays boosted their price objective on Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 23rd. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Crown Castle has an average rating of “Hold” and a consensus price target of $112.64.

Check Out Our Latest Analysis on CCI

Crown Castle 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

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

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