Mitsubishi UFJ Trust & Banking Corp Has $134.04 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Key Points

• Mitsubishi UFJ Trust & Banking Corp increased its stake in Crown Castle Inc. by 575% during the first quarter, acquiring over 1 million shares and now holds approximately 0.30% of the company valued at $134 million.
• Crown Castle recently announced a quarterly dividend of $1.0625 per share, with a current annualized dividend yield of 4.0%, despite having a negative payout ratio of -39.83%.
• The company reported revenue of $1.06 billion for the last quarter, surpassing estimates, but indicated a 4.2% decline in quarterly revenue year-over-year alongside a reported negative net margin of 85.54%.

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 575.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,285,972 shares of the real estate investment trust's stock after buying an additional 1,095,455 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.30% of Crown Castle worth $134,037,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CCI. CWA Asset Management Group LLC lifted its stake in shares of Crown Castle by 9.0% in the 1st quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust's stock valued at $278,000 after purchasing an additional 219 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Crown Castle by 4.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 204,237 shares of the real estate investment trust's stock worth $18,537,000 after acquiring an additional 8,800 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Crown Castle by 13.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust's stock valued at $3,665,000 after acquiring an additional 4,276 shares during the last quarter. Legacy Advisors LLC acquired a new stake in Crown Castle in the 1st quarter worth approximately $262,000. Finally, Everhart Financial Group Inc. acquired a new position in Crown Castle during the first quarter valued at approximately $307,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Up 0.3%

Shares of NYSE:CCI traded up $0.28 during mid-day trading on Monday, reaching $107.16. The stock had a trading volume of 2,977,167 shares, compared to its average volume of 3,264,441. The firm has a market cap of $46.66 billion, a PE ratio of -10.04, a price-to-earnings-growth ratio of 0.81 and a beta of 0.89. The firm has a 50 day simple moving average of $102.78 and a two-hundred day simple moving average of $99.36. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the previous year, the business posted $1.62 EPS. Crown Castle's revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $1.0625 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.25 dividend on an annualized basis and a yield of 4.0%. Crown Castle's dividend payout ratio is -39.83%.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of research analyst reports. UBS Group raised their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research note on Friday, July 25th. BMO Capital Markets raised their price objective on shares of Crown Castle from $108.00 to $115.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Bank of America began coverage on shares of Crown Castle in a report on Monday, May 19th. They issued a "buy" rating and a $115.00 price target for the company. Wells Fargo & Company upgraded shares of Crown Castle from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $105.00 to $125.00 in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada upped their price target on Crown Castle from $107.00 to $112.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.18.

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.