MONECO Advisors LLC Purchases New Holdings in Crown Castle Inc. (NYSE:CCI)

MONECO Advisors LLC purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 21,954 shares of the real estate investment trust's stock, valued at approximately $2,529,000.

Other hedge funds also recently added to or reduced their stakes in the company. Operose Advisors LLC purchased a new stake in Crown Castle in the 3rd quarter valued at about $30,000. Valley National Advisers Inc. boosted its position in Crown Castle by 51.1% in the 4th 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 period. HHM Wealth Advisors LLC boosted its position in Crown Castle by 154.8% in the 3rd 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 period. Rosenberg Matthew Hamilton boosted its position in Crown Castle by 43.6% in the 4th 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 period. Finally, Larson Financial Group LLC boosted its position in Crown Castle by 123.3% in the 3rd quarter. Larson Financial Group LLC now owns 480 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 265 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CCI has been the subject of several research reports. Scotiabank lowered their price objective on shares of Crown Castle from $133.00 to $118.00 and set a "sector perform" rating for the company in a research report on Thursday, April 18th. Wells Fargo & Company lowered their price target on shares of Crown Castle from $115.00 to $100.00 and set an "equal weight" rating for the company in a research report on Friday, April 19th. Argus cut shares of Crown Castle from a "buy" rating to a "hold" rating in a research report on Friday, April 19th. Bank of America lowered their price target on shares of Crown Castle from $120.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, April 19th. Finally, BMO Capital Markets lowered their price target on shares of Crown Castle from $110.00 to $105.00 and set a "market perform" rating for the company in a research report on Thursday, April 18th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Crown Castle presently has a consensus rating of "Hold" and an average price target of $113.29.

Crown Castle Stock Performance

NYSE CCI traded down $1.53 during mid-day trading on Tuesday, reaching $93.79. 4,982,636 shares of the stock were exchanged, compared to its average volume of 2,862,806. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. The company has a market capitalization of $40.75 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.49 and a beta of 0.73. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $123.31. The business's 50 day moving average is $103.39 and its 200-day moving average is $105.42.

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

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.67%. The ex-dividend date was Thursday, March 14th. Crown Castle's payout ratio is currently 195.63%.

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.

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.