CVA Family Office LLC Sells 125 Shares of Crown Castle Inc. (NYSE:CCI)

CVA Family Office LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 5.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,980 shares of the real estate investment trust’s stock after selling 125 shares during the period. CVA Family Office LLC’s holdings in Crown Castle were worth $210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCI. QRG Capital Management Inc. bought a new position in Crown Castle in the third quarter worth approximately $1,008,000. Rathbones Group PLC boosted its holdings in shares of Crown Castle by 34.5% in the 3rd quarter. Rathbones Group PLC now owns 17,749 shares of the real estate investment trust’s stock valued at $1,633,000 after acquiring an additional 4,552 shares during the last quarter. Regal Investment Advisors LLC acquired a new stake in Crown Castle during the 3rd quarter worth about $240,000. LPL Financial LLC grew its holdings in Crown Castle by 5.6% during the third quarter. LPL Financial LLC now owns 836,785 shares of the real estate investment trust’s stock worth $77,009,000 after acquiring an additional 44,190 shares during the period. Finally, Motley Fool Asset Management LLC increased its holdings in shares of Crown Castle by 10.3% during the 3rd quarter. Motley Fool Asset Management LLC now owns 11,141 shares of the real estate investment trust’s stock valued at $1,025,000 after purchasing an additional 1,039 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. BMO Capital Markets cut their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Royal Bank of Canada cut their target price on 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. Jefferies Financial Group dropped their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Scotiabank reduced 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 report on Thursday, April 18th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $114.21.

Crown Castle Trading Up 0.1 %

NYSE CCI opened at $96.50 on Friday. The company’s 50 day moving average price is $98.18 and its 200 day moving average price is $105.42. 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 one year low of $84.72 and a one year high of $119.50. The firm has a market capitalization of $41.93 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.55 and a beta of 0.82.

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

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend 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%.

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.