Leo Wealth LLC Purchases New Position in Crown Castle Inc. (NYSE:CCI)

Leo Wealth LLC acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,035 shares of the real estate investment trust’s stock, valued at approximately $3,228,000.

Other hedge funds have also added to or reduced their stakes in the company. MONECO Advisors LLC bought a new position in Crown Castle during the fourth quarter worth about $2,529,000. Trust Co. of Vermont lifted its holdings in shares of Crown Castle by 131.5% in the fourth quarter. Trust Co. of Vermont now owns 1,102 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 626 shares during the last quarter. SageView Advisory Group LLC increased its holdings in Crown Castle by 65.4% in the 4th quarter. SageView Advisory Group LLC now owns 5,665 shares of the real estate investment trust’s stock worth $612,000 after purchasing an additional 2,240 shares in the last quarter. Fisher Asset Management LLC increased its position in Crown Castle by 16.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock valued at $523,773,000 after acquiring an additional 632,398 shares during the period. Finally, Slagle Financial LLC raised its stake in shares of Crown Castle by 103.4% during the fourth quarter. Slagle Financial LLC now owns 41,912 shares of the real estate investment trust’s stock valued at $4,828,000 after acquiring an additional 21,304 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. BMO Capital Markets reduced their price target 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. Jefferies Financial Group decreased their price objective on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Barclays boosted their price objective on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 23rd. Finally, Raymond James reaffirmed an “outperform” rating and set a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a research note on Friday. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $114.21.

Crown Castle Stock Down 2.8 %

NYSE:CCI traded down $2.76 during trading hours on Monday, hitting $96.34. 2,594,742 shares of the company traded hands, compared to its average volume of 2,809,754. Crown Castle Inc. has a one year low of $84.72 and a one year high of $119.50. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The firm’s 50-day simple moving average is $98.45 and its 200-day simple moving average is $106.02. The company has a market cap of $41.86 billion, a PE ratio of 30.97, a PEG ratio of 2.62 and a beta of 0.82.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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 firm 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.91 EPS. Equities analysts predict that Crown Castle Inc. will post 6.63 earnings per share for the current 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 given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.50%. The ex-dividend date of this dividend is Friday, June 14th. Crown Castle’s dividend payout ratio (DPR) is currently 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.