Hengehold Capital Management LLC Raises Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Hengehold Capital Management LLC grew its stake in Crown Castle Inc. (NYSE:CCI) by 1.0% during the 1st quarter, Holdings Channel reports. The fund owned 19,732 shares of the real estate investment trust’s stock after acquiring an additional 204 shares during the period. Hengehold Capital Management LLC’s holdings in Crown Castle were worth $2,088,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ausbil Investment Management Ltd lifted its position in shares of Crown Castle by 4.2% in the first quarter. Ausbil Investment Management Ltd now owns 51,765 shares of the real estate investment trust’s stock valued at $5,397,000 after acquiring an additional 2,079 shares in the last quarter. G&S Capital LLC purchased a new position in Crown Castle during the first quarter worth about $1,303,000. Future Financial Wealth Managment LLC purchased a new position in Crown Castle during the first quarter worth about $106,000. Brookstone Capital Management lifted its position in Crown Castle by 2,316.5% during the first quarter. Brookstone Capital Management now owns 84,409 shares of the real estate investment trust’s stock worth $8,933,000 after buying an additional 80,916 shares during the period. Finally, Hazelview Securities Inc. lifted its position in Crown Castle by 1.0% during the first quarter. Hazelview Securities Inc. now owns 29,100 shares of the real estate investment trust’s stock worth $3,034,000 after buying an additional 300 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Up 0.1 %

NYSE CCI traded up $0.11 during mid-day trading on Friday, reaching $97.50. 1,001,823 shares of the company’s stock traded hands, compared to its average volume of 2,798,130. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $119.50. The company has a fifty day simple moving average of $98.31 and a 200-day simple moving average of $104.90. 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 cap of $42.37 billion, a price-to-earnings ratio of 30.44, a P/E/G ratio of 2.54 and a beta of 0.82.

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). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business earned $1.91 EPS. Crown Castle’s revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, equities research analysts expect that Crown Castle Inc. will post 6.62 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date is Friday, June 14th. Crown Castle’s dividend payout ratio is presently 195.63%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CCI shares. Wells Fargo & Company reduced their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. Scotiabank reduced their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Royal Bank of Canada reduced their target price on 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. Barclays increased their target price on Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 23rd. Finally, BMO Capital Markets cut their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Eleven investment 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 presently has a consensus rating of “Hold” and a consensus price target of $114.21.

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.