Fort Pitt Capital Group LLC Has $3.87 Million Stake in Crown Castle Inc. (NYSE:CCI)

Fort Pitt Capital Group LLC grew its stake in Crown Castle Inc. (NYSE:CCIFree Report) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,587 shares of the real estate investment trust’s stock after purchasing an additional 1,108 shares during the period. Fort Pitt Capital Group LLC’s holdings in Crown Castle were worth $3,872,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CCI. Ables Iannone Moore & Associates Inc. acquired a new stake in Crown Castle in the 4th quarter worth $25,000. Operose Advisors LLC acquired a new stake in shares of Crown Castle during the 3rd quarter valued at about $30,000. Gables Capital Management Inc. boosted its position in shares of Crown Castle by 164.0% during the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 164 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in shares of Crown Castle during the 4th quarter valued at about $30,000. Finally, Valley National Advisers Inc. boosted its position in shares of Crown Castle by 51.1% during the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 97 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of NYSE CCI traded up $0.09 during trading on Friday, reaching $96.50. The company had a trading volume of 3,620,392 shares, compared to its average volume of 2,240,931. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $119.50. The stock has a market cap of $41.93 billion, a PE ratio of 30.16, a PEG ratio of 2.55 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. The business’s 50 day moving average price is $98.18 and its 200-day moving average price is $105.25.

Crown Castle (NYSE:CCIGet Free Report) last announced its 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). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm posted $1.91 earnings per share. The company’s revenue was down 7.4% on a year-over-year basis. Analysts expect that Crown Castle Inc. will post 6.62 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date is Friday, June 14th. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CCI shares. BMO Capital Markets decreased their target price on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research report on Thursday, April 18th. Barclays lifted their target price on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada decreased their target price on shares of 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. Wells Fargo & Company cut 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 report on Friday, April 19th. Finally, Raymond James reissued an “outperform” rating and set a $126.00 price target (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $114.21.

Check Out Our Latest Stock Report on CCI

About Crown Castle

(Free Report)

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.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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