California Public Employees Retirement System Has $290.32 Million Stake in Crown Castle Inc. (NYSE:CCI)

California Public Employees Retirement System raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,520,391 shares of the real estate investment trust’s stock after purchasing an additional 27,323 shares during the period. California Public Employees Retirement System’s holdings in Crown Castle were worth $290,324,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Riverview Trust Co raised its position in Crown Castle by 108.5% during the 3rd quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 140 shares during the last quarter. Operose Advisors LLC bought a new position in Crown Castle during the 3rd quarter worth $30,000. Valley National Advisers Inc. raised its position in Crown Castle by 51.1% during the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 97 shares during the last quarter. HHM Wealth Advisors LLC raised its position in Crown Castle by 154.8% during the 3rd quarter. HHM Wealth Advisors LLC now owns 395 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 240 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its position in Crown Castle by 43.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 113 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Jefferies Financial Group lowered their target price on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Wells Fargo & Company lowered their price objective on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday. 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 report on Thursday, April 18th. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Scotiabank decreased their target price 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. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Crown Castle presently has a consensus rating of “Hold” and an average target price of $113.57.

Crown Castle Stock Performance

Shares of CCI traded up $0.79 on Tuesday, reaching $95.87. 336,071 shares of the company’s stock traded hands, compared to its average volume of 2,811,420. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73. The stock has a market cap of $41.66 billion, a PE ratio of 29.71, a PEG ratio of 2.53 and a beta of 0.73. The stock’s 50 day simple moving average is $104.62 and its two-hundred day simple moving average is $105.37. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $128.27.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company posted $1.91 earnings per share. Crown Castle’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, analysts forecast that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 dividend on an annualized basis and a yield of 6.53%. Crown Castle’s payout ratio is 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.