Malaga Cove Capital LLC Lowers Stake in Crown Castle Inc. (NYSE:CCI)

Malaga Cove Capital LLC cut its position in Crown Castle Inc. (NYSE:CCI) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,551 shares of the real estate investment trust’s stock after selling 1,008 shares during the period. Malaga Cove Capital LLC’s holdings in Crown Castle were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CCI. Operose Advisors LLC purchased a new stake in Crown Castle in the 3rd quarter worth $30,000. Valley National Advisers Inc. grew its position in shares of Crown Castle by 51.1% during the fourth 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 in the last quarter. HHM Wealth Advisors LLC lifted its holdings in 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 worth $36,000 after purchasing an additional 240 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Crown Castle by 126.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 312 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 174 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its stake in Crown Castle by 43.6% in 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 period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Trading Up 1.0 %

CCI traded up $0.95 during trading on Friday, reaching $97.39. The company had a trading volume of 4,119,456 shares, compared to its average volume of 3,351,464. 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 simple moving average of $102.38 and a 200-day simple moving average of $105.30. The stock has a market cap of $42.32 billion, a P/E ratio of 30.43, a PEG ratio of 2.59 and a beta of 0.76. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $119.60.

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 firm 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 revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 EPS. On average, equities analysts anticipate that Crown Castle Inc. will post 6.59 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.43%. Crown Castle’s payout ratio is 195.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CCI shares. BMO Capital Markets reduced their price objective on shares of 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 increased their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a report on Wednesday, February 21st. Barclays lifted their target price on Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 23rd. Scotiabank dropped their price target on 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, 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 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $113.29.

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.