Lyell Wealth Management LP Buys 5,059 Shares of Crown Castle Inc. (NYSE:CCI)

Lyell Wealth Management LP boosted its stake in Crown Castle Inc. (NYSE:CCI) by 19.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,690 shares of the real estate investment trust’s stock after acquiring an additional 5,059 shares during the period. Lyell Wealth Management LP’s holdings in Crown Castle were worth $3,650,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CCI. Riverview Trust Co raised its position in Crown Castle by 108.5% in the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 140 shares during the period. Operose Advisors LLC purchased a new position in shares of Crown Castle in the third quarter worth about $30,000. Valley National Advisers Inc. increased its stake in shares of Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. HHM Wealth Advisors LLC increased its stake in shares of Crown Castle by 154.8% in the third quarter. HHM Wealth Advisors LLC now owns 395 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 240 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Crown Castle by 43.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CCI shares. Scotiabank reduced their target price on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Jefferies Financial Group reduced their target price 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. Royal Bank of Canada boosted their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. Wells Fargo & Company reduced their price objective on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Finally, Bank of America reduced their price objective on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Crown Castle has an average rating of “Hold” and a consensus price target of $113.29.

Crown Castle Price Performance

CCI stock traded down $0.03 during midday trading on Wednesday, reaching $95.44. The company had a trading volume of 2,905,602 shares, compared to its average volume of 2,840,487. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $125.41. The company has a market capitalization of $41.47 billion, a P/E ratio of 29.83, a P/E/G ratio of 2.53 and a beta of 0.73. The firm has a 50-day moving average price of $104.22 and a 200-day moving average price of $105.33.

Crown Castle (NYSE:CCI) last released 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). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the firm earned $1.91 EPS. Crown Castle’s quarterly revenue was down 7.4% on a year-over-year basis. On average, research analysts anticipate that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.56%. Crown Castle’s payout ratio is 195.63%.

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.