MONECO Advisors LLC Acquires Shares of 21,954 Crown Castle Inc. (NYSE:CCI)

MONECO Advisors LLC acquired a new stake in Crown Castle Inc. (NYSE:CCI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,954 shares of the real estate investment trust’s stock, valued at approximately $2,529,000.

Several other large investors also recently bought and sold shares of CCI. Valeo Financial Advisors LLC boosted its stake in shares of Crown Castle by 122.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 5,521 shares of the real estate investment trust’s stock valued at $508,000 after buying an additional 3,034 shares during the last quarter. PDS Planning Inc purchased a new position in shares of Crown Castle during the 3rd quarter valued at approximately $222,000. FAS Wealth Partners Inc. boosted its stake in shares of Crown Castle by 7.2% during the 3rd quarter. FAS Wealth Partners Inc. now owns 9,650 shares of the real estate investment trust’s stock valued at $888,000 after buying an additional 646 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Crown Castle by 7.2% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 81,525 shares of the real estate investment trust’s stock valued at $7,503,000 after buying an additional 5,500 shares during the last quarter. Finally, Sheets Smith Wealth Management bought a new position in Crown Castle during the third quarter worth $568,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CCI shares. Royal Bank of Canada raised their price objective on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. Barclays raised their price objective on Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group reduced their price objective on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Scotiabank cut their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Finally, Bank of America cut their target price on Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.29.

Crown Castle Stock Performance

Shares of CCI traded down $1.53 during trading hours on Tuesday, reaching $93.79. 4,982,636 shares of the company’s stock traded hands, compared to its average volume of 2,862,806. The firm has a market capitalization of $40.75 billion, a price-to-earnings ratio of 29.57, a P/E/G ratio of 2.49 and a beta of 0.73. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $123.31. The business’s fifty day simple moving average is $103.39 and its two-hundred day simple moving average is $105.42.

Crown Castle (NYSE:CCI) last released 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). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. Crown Castle’s revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.91 earnings per share. Analysts predict that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors 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 6.67%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s payout ratio is currently 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.