Spinnaker Trust Has $2.19 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Spinnaker Trust lifted its stake in Crown Castle Inc. (NYSE:CCI) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,039 shares of the real estate investment trust’s stock after buying an additional 234 shares during the period. Spinnaker Trust’s holdings in Crown Castle were worth $2,193,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Valley National Advisers Inc. boosted its position in Crown Castle by 51.1% in the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 97 shares during the last quarter. Operose Advisors LLC acquired a new stake in shares of Crown Castle in the 3rd quarter valued at about $30,000. Rosenberg Matthew Hamilton grew its holdings in shares of Crown Castle by 43.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 113 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in Crown Castle by 154.8% during 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 during the period. Finally, Criterion Capital Advisors LLC bought a new position in Crown Castle during the fourth quarter worth about $47,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CCI shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a report on Monday, April 22nd. BMO Capital Markets decreased their target price on shares of 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. Bank of America cut their price target on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Jefferies Financial Group dropped their price objective on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Scotiabank lowered their target price on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $113.29.

Crown Castle Stock Performance

NYSE CCI traded down $0.63 on Friday, hitting $93.58. 2,697,322 shares of the company’s stock traded hands, compared to its average volume of 2,940,738. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73. The firm’s 50-day moving average price is $103.65 and its two-hundred day moving average price is $105.25. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $123.79. The firm has a market capitalization of $40.66 billion, a PE ratio of 29.24, a P/E/G ratio of 2.51 and a beta of 0.73.

Crown Castle (NYSE:CCI) last released 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 return on equity of 21.30% and a net margin of 20.32%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company earned $1.91 EPS. Crown Castle’s quarterly revenue was down 7.4% compared to the same quarter last year. As a group, analysts expect that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.69%. Crown Castle’s payout ratio is currently 195.63%.

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.