Retirement Systems of Alabama Has $64.68 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Retirement Systems of Alabama reduced its holdings in Crown Castle Inc. (NYSE:CCI) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 561,466 shares of the real estate investment trust’s stock after selling 2,409 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Crown Castle worth $64,675,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. United Services Automobile Association raised its position in Crown Castle by 23.1% in the 3rd quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock worth $1,234,000 after purchasing an additional 2,516 shares during the last quarter. Court Place Advisors LLC bought a new position in Crown Castle in the 4th quarter worth approximately $201,000. Van ECK Associates Corp raised its position in Crown Castle by 0.5% in the 3rd quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock worth $10,852,000 after purchasing an additional 542 shares during the last quarter. International Assets Investment Management LLC raised its position in Crown Castle by 8,611.0% in the 4th quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock worth $81,006,000 after purchasing an additional 695,163 shares during the last quarter. Finally, Manning & Napier Group LLC bought a new position in Crown Castle in the 4th quarter worth approximately $5,005,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 21st. Jefferies Financial Group dropped 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 report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets dropped their target price on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Finally, Scotiabank dropped 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 report on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Crown Castle currently has an average rating of “Hold” and an average price target of $113.29.

Crown Castle Trading Down 0.7 %

Shares of CCI traded down $0.63 during trading hours on Friday, reaching $93.58. The stock had a trading volume of 2,697,322 shares, compared to its average volume of 2,940,738. The company has a market cap of $40.66 billion, a P/E ratio of 29.24, a P/E/G ratio of 2.49 and a beta of 0.73. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $123.79. The firm has a 50-day moving average of $103.65 and a 200 day moving average of $105.34.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. Crown Castle’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.91 earnings per share. On average, sell-side analysts expect that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is presently 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.