Fort Pitt Capital Group LLC Has $3.87 Million Stake in Crown Castle Inc. (NYSE:CCI)

Fort Pitt Capital Group LLC boosted its position in shares of Crown Castle Inc. (NYSE:CCIFree Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,587 shares of the real estate investment trust’s stock after buying an additional 1,108 shares during the period. Fort Pitt Capital Group LLC’s holdings in Crown Castle were worth $3,872,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Morgan Stanley boosted its stake in shares of Crown Castle by 8.9% in 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. Cohen & Steers Inc. boosted its stake in shares of Crown Castle by 7.9% in the 4th quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after purchasing an additional 834,198 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Crown Castle by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock valued at $1,297,147,000 after purchasing an additional 1,126,394 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Crown Castle by 42.8% in 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 boosted its stake in shares of Crown Castle by 2.9% in 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. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group reduced 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 dropped 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 report on Friday, April 19th. Barclays raised their price objective on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Scotiabank dropped 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 report on Thursday, April 18th. Finally, Raymond James reiterated an “outperform” rating and issued a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Crown Castle currently has an average rating of “Hold” and a consensus target price of $114.21.

Get Our Latest Stock Analysis on Crown Castle

Crown Castle Trading Up 0.1 %

Crown Castle stock traded up $0.09 during mid-day trading on Friday, hitting $96.50. 3,620,392 shares of the stock were exchanged, compared to its average volume of 2,240,931. The company has a quick ratio of 0.42, 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 $119.50. The firm’s fifty day simple moving average is $98.18 and its two-hundred day simple moving average is $105.25. The stock has a market capitalization of $41.93 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.55 and a beta of 0.82.

Crown Castle (NYSE:CCIGet Free Report) last released its quarterly 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 for 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%. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.91 EPS. Analysts forecast that Crown Castle Inc. will post 6.62 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend is Friday, June 14th. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Crown Castle Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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