Mitsubishi UFJ Asset Management Co. Ltd. Has $54.82 Million Stake in Crown Castle Inc. (NYSE:CCI)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 21.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 517,964 shares of the real estate investment trust’s stock after buying an additional 91,404 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.12% of Crown Castle worth $54,816,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCI. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Crown Castle in the 4th quarter valued at $25,000. Rational Advisors LLC bought a new stake in Crown Castle in the first quarter valued at about $27,000. Gables Capital Management Inc. lifted its stake in Crown Castle by 164.0% in the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 164 shares during the period. Richardson Financial Services Inc. bought a new position in Crown Castle during the fourth quarter worth about $30,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Crown Castle in the 1st quarter valued at about $32,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Performance

Shares of NYSE:CCI traded down $0.91 on Friday, reaching $104.13. 507,364 shares of the company’s stock were exchanged, compared to its average volume of 2,771,643. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $119.50. The company has a fifty day moving average of $99.51 and a 200-day moving average of $103.27. The company has a market capitalization of $45.25 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 2.80 and a beta of 0.83.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a return on equity of 18.66% and a net margin of 17.98%. Crown Castle’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, research analysts predict that Crown Castle Inc. will post 6.62 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s dividend payout ratio is presently 195.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group began coverage on shares of Crown Castle in a report on Monday, July 1st. They issued a “neutral” rating and a $104.00 target price on the stock. Jefferies Financial Group cut 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 report on Thursday, April 18th. TD Cowen raised their price objective on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday. Bank of America upped their target price on Crown Castle from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $114.88.

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.