California Public Employees Retirement System Acquires 27,323 Shares of Crown Castle Inc. (NYSE:CCI)

California Public Employees Retirement System boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,520,391 shares of the real estate investment trust’s stock after buying an additional 27,323 shares during the period. California Public Employees Retirement System owned approximately 0.58% of Crown Castle worth $290,324,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CCI. International Assets Investment Management LLC grew its holdings in shares of Crown Castle by 115.6% during the 3rd quarter. International Assets Investment Management LLC now owns 8,073 shares of the real estate investment trust’s stock worth $724,000 after purchasing an additional 4,328 shares in the last quarter. CWM LLC grew its holdings in shares of Crown Castle by 48.8% during the 3rd quarter. CWM LLC now owns 11,635 shares of the real estate investment trust’s stock worth $1,071,000 after purchasing an additional 3,818 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of Crown Castle by 34.0% during the 3rd quarter. HB Wealth Management LLC now owns 6,788 shares of the real estate investment trust’s stock worth $625,000 after purchasing an additional 1,722 shares in the last quarter. Advisors Management Group Inc. ADV acquired a new stake in Crown Castle in the 3rd quarter valued at $249,000. Finally, Xcel Wealth Management LLC boosted its stake in Crown Castle by 17.5% in the 3rd quarter. Xcel Wealth Management LLC now owns 2,350 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 350 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 0.8 %

NYSE:CCI traded up $0.79 on Tuesday, reaching $95.87. The company’s stock had a trading volume of 336,071 shares, compared to its average volume of 2,811,420. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $128.27. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. The firm has a market cap of $41.66 billion, a PE ratio of 29.71, a PEG ratio of 2.53 and a beta of 0.73. The business’s 50-day moving average price is $104.62 and its two-hundred day moving average price is $105.37.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the firm posted $1.91 earnings per share. The firm’s revenue was down 7.4% on a year-over-year basis. Equities 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 announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid 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 yield of 6.53%. Crown Castle’s payout ratio is 195.63%.

Wall Street Analyst Weigh In

Several analysts recently commented on CCI shares. Jefferies Financial Group decreased their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. BMO Capital Markets decreased their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research note on Thursday, April 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday. Wells Fargo & Company reduced their price objective on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada boosted their price objective on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $113.57.

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.