Crown Castle Inc. (NYSE:CCI) Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System lifted its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,520,391 shares of the real estate investment trust's stock after acquiring an additional 27,323 shares during the period. California Public Employees Retirement System owned 0.58% of Crown Castle worth $290,324,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Riverview Trust Co boosted its stake in Crown Castle by 108.5% during the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 140 shares during the last quarter. Operose Advisors LLC bought a new position in Crown Castle during the third quarter valued at approximately $30,000. Valley National Advisers Inc. boosted its stake in Crown Castle by 51.1% during the fourth 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. HHM Wealth Advisors LLC boosted its stake 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 valued at $36,000 after buying an additional 240 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its stake in Crown Castle by 43.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 113 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Up 0.4 %

CCI traded up $0.39 during trading on Tuesday, hitting $95.47. 2,484,512 shares of the stock were exchanged, compared to its average volume of 2,839,650. The firm has a 50 day simple moving average of $104.43 and a 200 day simple moving average of $105.40. The firm has a market cap of $41.48 billion, a price-to-earnings ratio of 29.83, a P/E/G ratio of 2.53 and a beta of 0.73. 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.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company's revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.91 earnings per share. As a group, equities analysts expect that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Announces Dividend

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

Analyst Ratings Changes

CCI has been the subject of several analyst reports. Scotiabank lowered their price objective on Crown Castle from $133.00 to $118.00 and set a "sector perform" rating for the company in a research note on Thursday, April 18th. BMO Capital Markets lowered their price objective on Crown Castle from $110.00 to $105.00 and set a "market perform" rating for the company in a research note on Thursday, April 18th. Royal Bank of Canada raised their price objective on Crown Castle from $92.00 to $109.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 21st. Bank of America lowered their price objective on Crown Castle from $120.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Barclays raised their price objective on Crown Castle from $111.00 to $112.00 and gave the company an "equal weight" rating in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating and four have given 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.