Premier Path Wealth Partners LLC Buys 169 Shares of Crown Castle Inc. (NYSE:CCI)

Premier Path Wealth Partners LLC increased its stake in Crown Castle Inc. (NYSE:CCI) by 6.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,776 shares of the real estate investment trust’s stock after acquiring an additional 169 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Crown Castle were worth $294,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. United Services Automobile Association increased its stake in shares of Crown Castle by 23.1% in the 3rd quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock valued at $1,234,000 after acquiring an additional 2,516 shares in the last quarter. Court Place Advisors LLC bought a new stake in shares of Crown Castle in the 4th quarter valued at $201,000. Van ECK Associates Corp increased its stake in shares of Crown Castle by 0.5% in the 3rd quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock valued at $10,852,000 after acquiring an additional 542 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Crown Castle by 8,611.0% in the 4th quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock valued at $81,006,000 after acquiring an additional 695,163 shares in the last quarter. Finally, Manning & Napier Group LLC bought a new stake in shares of Crown Castle in the 4th quarter valued at $5,005,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE:CCI traded down $0.54 during midday trading on Wednesday, reaching $100.21. The company had a trading volume of 1,974,613 shares, compared to its average volume of 2,878,841. The company’s 50 day moving average price is $99.71 and its 200 day moving average price is $106.25. 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 stock has a market cap of $43.54 billion, a P/E ratio of 31.32, a P/E/G ratio of 2.68 and a beta of 0.76. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results 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). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. Crown Castle’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period last year, the firm posted $1.91 earnings per share. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.58 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.25%. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CCI. Scotiabank decreased 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. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada decreased their price target on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 7th. Wells Fargo & Company decreased their price target on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Finally, Barclays boosted their price target on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note 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 company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $112.64.

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.