Crown Castle Inc. (NYSE:CCI) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC lifted its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 36.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,332 shares of the real estate investment trust's stock after purchasing an additional 3,576 shares during the period. HB Wealth Management LLC's holdings in Crown Castle were worth $1,390,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in shares of Crown Castle during the 1st quarter valued at about $26,000. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle during the 1st quarter valued at about $26,000. American National Bank & Trust bought a new position in shares of Crown Castle during the 1st quarter valued at about $29,000. Capital Advisors Ltd. LLC boosted its holdings in shares of Crown Castle by 62.1% during the 1st quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Crown Castle during the 4th quarter valued at about $38,000. Institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Royal Bank Of Canada increased their price target on shares of Crown Castle from $107.00 to $112.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price target on shares of Crown Castle in a report on Thursday, July 24th. Finally, Barclays increased their price target on shares of Crown Castle from $117.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $116.18.

Crown Castle Price Performance

Shares of NYSE:CCI traded up $1.80 during trading on Friday, reaching $106.89. 3,429,548 shares of the company were exchanged, compared to its average volume of 3,266,415. The firm has a market capitalization of $46.55 billion, a PE ratio of -10.02, a P/E/G ratio of 0.81 and a beta of 0.88. The business's fifty day simple moving average is $102.65 and its 200-day simple moving average is $99.07. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

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

Crown Castle Cuts Dividend

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

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.