PFG Investments LLC Boosts Stock Position in Crown Castle Inc. (NYSE:CCI)

PFG Investments LLC grew its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 481.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,100 shares of the real estate investment trust's stock after buying an additional 8,362 shares during the quarter. PFG Investments LLC's holdings in Crown Castle were worth $1,069,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CCI. Dakota Community Bank & Trust NA lifted its position in shares of Crown Castle by 4.2% during the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust's stock valued at $204,000 after acquiring an additional 90 shares during the last quarter. Valley National Advisers Inc. lifted its position in shares of Crown Castle by 51.1% during the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 97 shares during the last quarter. Pinnacle Bancorp Inc. lifted its position in shares of Crown Castle by 17.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 677 shares of the real estate investment trust's stock valued at $78,000 after acquiring an additional 100 shares during the last quarter. Waterfront Wealth Inc. lifted its position in shares of Crown Castle by 1.9% during the 4th quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust's stock valued at $635,000 after acquiring an additional 101 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Crown Castle by 0.5% in the third quarter. Raleigh Capital Management Inc. now owns 18,986 shares of the real estate investment trust's stock valued at $1,747,000 after purchasing an additional 103 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

CCI traded down $0.63 during midday trading on Friday, reaching $93.58. 2,697,322 shares of the company's stock were exchanged, compared to its average volume of 2,940,738. The firm has a market capitalization of $40.66 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 2.49 and a beta of 0.73. The company has a quick ratio of 0.40, a current ratio of 0.42 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 $123.79. The business has a 50-day simple moving average of $103.65 and a two-hundred day simple moving average of $105.41.

Crown Castle (NYSE:CCI - Get Free Report) last posted 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 net margin of 20.32% and a return on equity of 21.30%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $1.91 EPS. The business's revenue was down 7.4% on a year-over-year basis. As a group, research analysts predict that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently announced 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. This represents a $6.26 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date was Thursday, March 14th. Crown Castle's dividend payout ratio is presently 195.63%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CCI shares. BMO Capital Markets reduced their target price on Crown Castle from $110.00 to $105.00 and set a "market perform" rating for the company in a report on Thursday, April 18th. Barclays increased their price objective on Crown Castle from $111.00 to $112.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft cut 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. Bank of America lowered their target price 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. Finally, Argus downgraded shares of Crown Castle from a "buy" rating to a "hold" rating in a research report on Friday, April 19th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Crown Castle currently has an average rating of "Hold" and an average price target of $113.29.

Crown Castle 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.

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