State of Alaska Department of Revenue increased its position in shares of Crown Castle Inc. (NYSE:CCI – Get Rating) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 279,676 shares of the real estate investment trust’s stock after acquiring an additional 2,915 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Crown Castle worth $37,934,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of CCI. Activest Wealth Management grew its holdings in Crown Castle by 847.4% during the third quarter. Activest Wealth Management now owns 180 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 161 shares during the period. Almanack Investment Partners LLC. acquired a new position in Crown Castle during the third quarter worth about $28,000. Johnson Financial Group Inc. grew its holdings in Crown Castle by 210.8% during the second quarter. Johnson Financial Group Inc. now owns 230 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 156 shares during the period. Webster Bank N. A. grew its holdings in Crown Castle by 111.1% during the third quarter. Webster Bank N. A. now owns 380 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 200 shares during the period. Finally, Rosenberg Matthew Hamilton grew its holdings in Crown Castle by 40.5% during the third quarter. Rosenberg Matthew Hamilton now owns 385 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 111 shares during the period. 90.27% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently weighed in on CCI shares. Royal Bank of Canada lifted their price target on Crown Castle from $150.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 31st. Cowen lifted their price target on Crown Castle from $149.00 to $152.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Deutsche Bank Aktiengesellschaft lifted their price target on Crown Castle from $137.00 to $142.00 in a research note on Friday, December 16th. Raymond James lifted their price target on Crown Castle from $153.00 to $154.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Finally, Truist Financial dropped their price target on Crown Castle from $230.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, January 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.36.
Crown Castle Stock Down 1.7 %
Crown Castle (NYSE:CCI – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.83). The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.74 billion. Crown Castle had a net margin of 23.96% and a return on equity of 21.58%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.77 earnings per share. Equities research analysts predict that Crown Castle Inc. will post 7.26 EPS for the current fiscal year.
Crown Castle Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be issued a dividend of $1.565 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 4.81%. Crown Castle’s dividend payout ratio is 162.18%.
About Crown Castle
Crown Castle, Inc is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the Towers and Fiber segments. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.
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