Lyell Wealth Management LP Purchases 5,059 Shares of Crown Castle Inc. (NYSE:CCI)

Lyell Wealth Management LP lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 19.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,690 shares of the real estate investment trust’s stock after purchasing an additional 5,059 shares during the quarter. Lyell Wealth Management LP’s holdings in Crown Castle were worth $3,650,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverview Trust Co raised its holdings in shares of Crown Castle by 108.5% during the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 140 shares during the period. Operose Advisors LLC acquired a new stake in shares of Crown Castle during the third quarter worth $30,000. Valley National Advisers Inc. raised its holdings in shares of 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 worth $33,000 after acquiring an additional 97 shares during the period. HHM Wealth Advisors LLC raised its holdings in shares of 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 worth $36,000 after acquiring an additional 240 shares during the period. Finally, Rosenberg Matthew Hamilton raised its holdings in shares of Crown Castle by 43.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 113 shares during the period. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday. Wells Fargo & Company lowered their price target on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Barclays lifted their price target on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Jefferies Financial Group lowered their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $113.29.

Crown Castle Stock Performance

NYSE CCI traded down $0.03 during trading on Wednesday, reaching $95.44. The company’s stock had a trading volume of 2,905,602 shares, compared to its average volume of 2,840,487. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73. The firm has a market capitalization of $41.47 billion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $125.41. The firm has a 50 day moving average price of $104.22 and a 200 day moving average price of $105.33.

Crown Castle (NYSE:CCI) last issued its earnings results 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 during the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. Crown Castle’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.91 earnings per share. As a group, equities analysts anticipate that Crown Castle Inc. will post 6.59 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.56%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s payout ratio is presently 195.63%.

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.