FFT Wealth Management LLC Takes Position in Crown Castle Inc. (NYSE:CCI)

FFT Wealth Management LLC acquired a new stake in Crown Castle Inc. (NYSE:CCI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,922 shares of the real estate investment trust’s stock, valued at approximately $221,000.

Several other large investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in Crown Castle by 42.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock worth $651,910,000 after acquiring an additional 2,121,603 shares during the last quarter. Barclays PLC grew its position in Crown Castle by 217.9% during the 3rd quarter. Barclays PLC now owns 3,058,133 shares of the real estate investment trust’s stock worth $281,439,000 after acquiring an additional 2,096,272 shares during the last quarter. Wellington Management Group LLP grew its position in Crown Castle by 21.9% during the 3rd quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock worth $932,682,000 after acquiring an additional 1,818,910 shares during the last quarter. FMR LLC grew its position in Crown Castle by 14.3% during the 3rd quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock worth $1,098,526,000 after acquiring an additional 1,496,330 shares during the last quarter. Finally, Morgan Stanley grew its position in Crown Castle by 8.9% during the 3rd quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock worth $1,203,648,000 after acquiring an additional 1,064,382 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Up 0.2 %

Shares of NYSE CCI traded up $0.22 during mid-day trading on Thursday, hitting $95.45. The company had a trading volume of 551,806 shares, compared to its average volume of 2,855,332. The company has a market capitalization of $41.47 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.50 and a beta of 0.76. The firm has a 50-day simple moving average of $102.84 and a two-hundred day simple moving average of $105.34. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73. Crown Castle Inc. has a one year low of $84.72 and a one year high of $120.37.

Crown Castle (NYSE:CCI) last posted 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 business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business posted $1.91 EPS. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, equities analysts expect that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CCI shares. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. BMO Capital Markets decreased their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research report on Thursday, April 18th. Wells Fargo & Company decreased their price objective on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. Royal Bank of Canada increased their price objective on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $113.29.

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.