Community Bank & Trust Waco Texas Cuts Holdings in Crown Castle Inc. (NYSE:CCI)

Community Bank & Trust Waco Texas lowered its stake in Crown Castle Inc. (NYSE:CCI) by 10.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,147 shares of the real estate investment trust’s stock after selling 927 shares during the period. Community Bank & Trust Waco Texas’ holdings in Crown Castle were worth $938,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. United Services Automobile Association lifted its stake in Crown Castle by 23.1% in the third quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock worth $1,234,000 after purchasing an additional 2,516 shares during the last quarter. Court Place Advisors LLC bought a new stake in Crown Castle in the fourth quarter worth about $201,000. Van ECK Associates Corp lifted its stake in Crown Castle by 0.5% in the third quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock worth $10,852,000 after purchasing an additional 542 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Crown Castle by 8,611.0% in the fourth quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock worth $81,006,000 after purchasing an additional 695,163 shares during the last quarter. Finally, Manning & Napier Group LLC bought a new stake in shares of Crown Castle during the fourth quarter valued at approximately $5,005,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CCI. Bank of America decreased their price target on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. 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 reduced their price objective on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. Scotiabank reduced their price objective on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Finally, Argus downgraded shares of Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $113.29.

Crown Castle Stock Performance

Shares of CCI traded down $0.21 during trading hours on Wednesday, reaching $95.26. 830,723 shares of the company traded hands, compared to its average volume of 2,812,965. The stock has a market capitalization of $41.39 billion, a P/E ratio of 29.83, 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. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $125.41. The business has a fifty day moving average price of $104.43 and a 200-day moving average price of $105.40.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 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 analysts’ expectations of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. Crown Castle’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 company posted $1.91 earnings per share. Equities analysts anticipate that Crown Castle Inc. will post 6.59 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors 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 6.57%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

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.