Crown Castle Inc. (NYSE:CCI) Shares Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 239.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,433 shares of the real estate investment trust’s stock after acquiring an additional 6,654 shares during the quarter. SteelPeak Wealth LLC’s holdings in Crown Castle were worth $998,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Morgan Stanley lifted its holdings in shares of 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 acquiring an additional 1,064,382 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in 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 worth $1,310,559,000 after buying an additional 834,198 shares in the last quarter. Wellington Management Group LLP lifted its holdings in 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 worth $1,297,147,000 after buying an additional 1,126,394 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in 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 worth $651,910,000 after buying an additional 2,121,603 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in 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 worth $512,467,000 after buying an additional 155,543 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE:CCI traded up $0.31 during trading 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 company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $119.50. The company has a 50 day moving average of $98.42 and a 200-day moving average of $104.59. The stock has a market capitalization of $42.45 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 2.59 and a beta of 0.82.

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 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 the consensus estimate of $1.63 billion. During the same period in the prior year, the company earned $1.91 EPS. Crown Castle’s quarterly revenue was down 7.4% on a year-over-year basis. On average, equities analysts expect that Crown Castle Inc. will post 6.62 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.41%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CCI. Jefferies Financial Group cut their price objective on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. 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. Argus downgraded shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Bank of America dropped their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, 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.