First Bank & Trust Has $1.69 Million Stake in Crown Castle Inc. (NYSE:CCI)

First Bank & Trust lessened its stake in Crown Castle Inc. (NYSE:CCI) by 23.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,994 shares of the real estate investment trust’s stock after selling 4,904 shares during the period. First Bank & Trust’s holdings in Crown Castle were worth $1,693,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CCI. Dakota Community Bank & Trust NA grew its holdings in shares of Crown Castle by 4.2% during the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock worth $204,000 after purchasing an additional 90 shares in the last quarter. Valley National Advisers Inc. increased its holdings in Crown Castle by 51.1% in the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 97 shares during the period. Pinnacle Bancorp Inc. raised its stake in shares of Crown Castle by 17.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 677 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 100 shares in the last quarter. Waterfront Wealth Inc. lifted its holdings in shares of Crown Castle by 1.9% during the 4th quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock worth $635,000 after acquiring an additional 101 shares during the period. Finally, Raleigh Capital Management Inc. boosted its position in shares of Crown Castle by 0.5% during the 3rd quarter. Raleigh Capital Management Inc. now owns 18,986 shares of the real estate investment trust’s stock valued at $1,747,000 after acquiring an additional 103 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Up 0.3 %

Crown Castle stock traded up $0.31 during trading hours on Friday, reaching $97.70. 9,395,095 shares of the company’s stock traded hands, compared to its average volume of 2,492,467. The firm has a market capitalization of $42.45 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.58 and a beta of 0.82. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $119.50. The firm’s 50 day moving average is $98.42 and its 200-day moving average is $104.67.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 earnings per share. On average, analysts predict that Crown Castle Inc. will post 6.62 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $1.565 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.41%. Crown Castle’s dividend payout ratio is presently 195.63%.

Analysts Set New Price Targets

A number of research analysts have commented on CCI shares. Scotiabank cut their price target on shares of 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. Bank of America decreased their price target 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. BMO Capital Markets dropped their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. Raymond James restated an “outperform” rating and issued a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Finally, Barclays increased their target price on shares of Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $114.21.

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.