Orion Portfolio Solutions LLC Decreases Holdings in Crown Castle Inc. (NYSE:CCI)

Orion Portfolio Solutions LLC decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,596 shares of the real estate investment trust’s stock after selling 6,587 shares during the period. Orion Portfolio Solutions LLC’s holdings in Crown Castle were worth $8,102,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Morgan Stanley increased its stake in Crown Castle by 8.9% during the 3rd quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after purchasing an additional 1,064,382 shares in the last quarter. FMR LLC increased its stake in Crown Castle by 14.3% during the 3rd quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock valued at $1,098,526,000 after purchasing an additional 1,496,330 shares in the last quarter. Wellington Management Group LLP increased its stake in Crown Castle by 21.9% during the 3rd quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock valued at $932,682,000 after purchasing an additional 1,818,910 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Crown Castle by 42.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after purchasing an additional 2,121,603 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Crown Castle by 2.9% during the 3rd quarter. Legal & General Group Plc now owns 5,568,481 shares of the real estate investment trust’s stock valued at $512,467,000 after purchasing an additional 155,543 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI traded down $0.89 during midday trading on Friday, hitting $98.12. 2,094,891 shares of the company traded hands, compared to its average volume of 2,960,441. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73. The company has a market capitalization of $42.64 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 2.62 and a beta of 0.76. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50. The business has a 50 day simple moving average of $99.42 and a two-hundred day simple moving average of $106.28.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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 company had revenue of $1.64 billion for 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%. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.91 earnings per share. On average, equities analysts forecast that Crown Castle Inc. will post 6.58 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.38%. The ex-dividend date is Friday, June 14th. Crown Castle’s dividend payout ratio is currently 195.63%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CCI shares. Jefferies Financial Group cut their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Wells Fargo & Company cut their price objective on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Royal Bank of Canada dropped their price target on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 7th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $112.64.

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.