Hexagon Capital Partners LLC Lowers Position in Crown Castle Inc. (NYSE:CCI)

Hexagon Capital Partners LLC lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 12.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,125 shares of the real estate investment trust’s stock after selling 156 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Crown Castle were worth $130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Operose Advisors LLC purchased a new stake in shares of Crown Castle in the 3rd quarter valued at about $30,000. Valley National Advisers Inc. raised its holdings in shares of Crown Castle by 51.1% in the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 97 shares in the last quarter. HHM Wealth Advisors LLC raised its holdings in shares of Crown Castle by 154.8% in the 3rd quarter. HHM Wealth Advisors LLC now owns 395 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 240 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of Crown Castle by 43.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 113 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Crown Castle by 123.3% in the 3rd quarter. Larson Financial Group LLC now owns 480 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the topic of several recent research reports. BMO Capital Markets reduced 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. Bank of America reduced their price objective on Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Barclays increased their price objective on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Finally, Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Crown Castle presently has an average rating of “Hold” and an average target price of $113.29.

Crown Castle Price Performance

Shares of CCI stock opened at $95.23 on Thursday. The firm has a market cap of $41.38 billion, a P/E ratio of 29.76, a P/E/G ratio of 2.50 and a beta of 0.76. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $122.97. The business’s 50 day moving average price is $102.84 and its 200-day moving average price is $105.34. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 21.30% and a net margin of 20.32%. Crown Castle’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.91 earnings per share. On average, equities research analysts anticipate that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is presently 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.