Obermeyer Wood Investment Counsel Lllp Lowers Stock Position in Crown Castle Inc. (NYSE:CCI)

Obermeyer Wood Investment Counsel Lllp cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,823 shares of the real estate investment trust’s stock after selling 805 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in Crown Castle were worth $1,132,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CCI. Gray Wealth Management Inc. lifted its holdings in shares of Crown Castle by 3.0% during the fourth quarter. Gray Wealth Management Inc. now owns 4,379 shares of the real estate investment trust’s stock worth $504,000 after purchasing an additional 127 shares during the period. CapWealth Advisors LLC lifted its holdings in shares of Crown Castle by 2.1% during the fourth quarter. CapWealth Advisors LLC now owns 37,210 shares of the real estate investment trust’s stock worth $4,286,000 after purchasing an additional 764 shares during the period. Waterfront Wealth Inc. lifted its holdings in shares of Crown Castle by 1.9% during the fourth quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock worth $635,000 after purchasing an additional 101 shares during the period. Court Place Advisors LLC acquired a new stake in shares of Crown Castle during the fourth quarter worth $201,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Crown Castle by 13.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 56,815 shares of the real estate investment trust’s stock worth $6,545,000 after purchasing an additional 6,917 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on CCI. BMO Capital Markets decreased their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a report on Thursday. Jefferies Financial Group decreased their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a report on Thursday. Scotiabank reduced their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, Royal Bank of Canada raised their target price on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a report on Wednesday, February 21st. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $119.40.

Crown Castle Price Performance

Shares of NYSE:CCI traded up $1.32 during midday trading on Thursday, hitting $94.37. 4,937,718 shares of the stock were exchanged, compared to its average volume of 2,808,958. The stock has a market cap of $41.01 billion, a P/E ratio of 26.74, a PEG ratio of 2.50 and a beta of 0.73. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $134.09. The company has a 50 day moving average price of $105.41 and a 200-day moving average price of $105.15.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a return on equity of 21.95% and a net margin of 21.47%. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period last year, the firm earned $1.91 EPS. On average, research analysts forecast that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio is presently 180.92%.

Crown Castle Company Profile

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.