Ignite Planners LLC Increases Stake in Crown Castle Inc. (NYSE:CCI)

Ignite Planners LLC raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 4.5% during the 4th quarter, HoldingsChannel reports. The fund owned 7,574 shares of the real estate investment trust’s stock after acquiring an additional 324 shares during the quarter. Ignite Planners LLC’s holdings in Crown Castle were worth $682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle in the 3rd quarter worth approximately $25,000. Rosenberg Matthew Hamilton increased its stake in shares of Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares in the last quarter. FNY Investment Advisers LLC raised its position in shares of Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares during the period. Quest Partners LLC lifted its stake in shares of Crown Castle by 3,672.7% during the 2nd quarter. Quest Partners LLC now owns 415 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 404 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in Crown Castle in the 3rd quarter worth $47,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.3 %

NYSE CCI opened at $85.46 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a market capitalization of $37.14 billion, a price-to-earnings ratio of 30.31 and a beta of 0.87. The company has a fifty day moving average of $98.01 and a two-hundred day moving average of $105.89.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.77 earnings per share. On average, analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. boosted their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Wells Fargo & Company lowered shares of Crown Castle from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $105.00 to $100.00 in a report on Tuesday, December 10th. TD Cowen lowered their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and cut their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus price target of $113.00.

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.