Integrated Wealth Concepts LLC Increases Stock Position in Crown Castle Inc. (NYSE:CCI)

Integrated Wealth Concepts LLC grew its holdings in Crown Castle Inc. (NYSE:CCI) by 7.3% during the 4th quarter, Holdings Channel reports. The firm owned 6,931 shares of the real estate investment trust’s stock after buying an additional 473 shares during the period. Integrated Wealth Concepts LLC’s holdings in Crown Castle were worth $629,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Crown Castle by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock valued at $5,672,451,000 after buying an additional 5,934,615 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Crown Castle by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust’s stock valued at $1,892,332,000 after acquiring an additional 3,321,249 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Crown Castle by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust’s stock valued at $1,119,225,000 after acquiring an additional 228,007 shares in the last quarter. Norges Bank acquired a new stake in shares of Crown Castle during the fourth quarter valued at $561,714,000. Finally, National Bank of Canada FI increased its position in Crown Castle by 37.3% during the 4th quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust’s stock worth $525,849,000 after purchasing an additional 1,573,043 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CCI. Citigroup restated a “buy” rating on shares of Crown Castle in a report on Tuesday, March 25th. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Bank of America started coverage on shares of Crown Castle in a research note on Thursday, March 20th. They issued a “neutral” rating and a $110.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle has a consensus rating of “Moderate Buy” and a consensus target price of $111.18.

Crown Castle Trading Up 0.5 %

Shares of CCI stock opened at $106.32 on Friday. 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 fifty-two week low of $84.20 and a fifty-two week high of $120.92. The firm’s 50 day moving average price is $100.05 and its two-hundred day moving average price is $98.23. The stock has a market cap of $46.29 billion, a price-to-earnings ratio of 37.70 and a beta of 0.93.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.62). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm posted $1.72 EPS. The business’s revenue was down 4.8% compared to the same quarter last year. On average, analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $1.565 per share. The ex-dividend date was Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 5.89%. Crown Castle’s payout ratio is currently -58.18%.

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.