Sumitomo Mitsui DS Asset Management Company Ltd Has $5.75 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Crown Castle Inc. (NYSE:CCI) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,872 shares of the real estate investment trust’s stock after buying an additional 125 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Crown Castle were worth $5,745,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Magnolia Capital Advisors LLC raised its stake in Crown Castle by 3.2% during the 4th quarter. Magnolia Capital Advisors LLC now owns 2,375 shares of the real estate investment trust’s stock worth $322,000 after buying an additional 73 shares during the period. Summit Financial Group Inc. raised its stake in Crown Castle by 5.5% during the 3rd quarter. Summit Financial Group Inc. now owns 1,638 shares of the real estate investment trust’s stock worth $237,000 after buying an additional 85 shares during the period. Orion Portfolio Solutions LLC raised its stake in Crown Castle by 2.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,678 shares of the real estate investment trust’s stock worth $679,000 after buying an additional 86 shares during the period. Dakota Community Bank & Trust NA raised its stake in Crown Castle by 4.2% during the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 90 shares during the period. Finally, Townsend & Associates Inc raised its stake in Crown Castle by 5.7% during the 4th quarter. Townsend & Associates Inc now owns 1,682 shares of the real estate investment trust’s stock worth $238,000 after buying an additional 90 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCI has been the subject of several analyst reports. BMO Capital Markets lowered their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday. Jefferies Financial Group lowered their price objective on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada increased their price objective 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. Argus downgraded Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Bank of America lowered their price objective on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crown Castle has an average rating of “Hold” and an average price target of $115.50.

Crown Castle Stock Performance

CCI stock opened at $95.20 on Monday. The firm has a market cap of $41.37 billion, a PE ratio of 29.75, a P/E/G ratio of 2.53 and a beta of 0.73. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The business has a 50 day moving average of $104.88 and a 200-day moving average of $105.33. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $131.43.

Crown Castle (NYSE:CCI) last released 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 business had revenue of $1.64 billion during 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 was down 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.91 earnings per share. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.58%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Crown Castle Company 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.