Mine & Arao Wealth Creation & Management LLC. Sells 287 Shares of Crown Castle Inc. (NYSE:CCI)

Mine & Arao Wealth Creation & Management LLC. lowered its stake in Crown Castle Inc. (NYSE:CCI) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,621 shares of the real estate investment trust’s stock after selling 287 shares during the period. Mine & Arao Wealth Creation & Management LLC.’s holdings in Crown Castle were worth $417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in 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 worth $7,503,000 after purchasing an additional 5,500 shares during the last quarter. Accurate Wealth Management LLC grew its position in shares of Crown Castle by 5.4% during the 3rd quarter. Accurate Wealth Management LLC now owns 3,211 shares of the real estate investment trust’s stock worth $300,000 after buying an additional 164 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Crown Castle by 20.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 57,441 shares of the real estate investment trust’s stock worth $5,286,000 after buying an additional 9,635 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Crown Castle in the third quarter valued at approximately $508,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Crown Castle by 7.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 94,450 shares of the real estate investment trust’s stock valued at $8,692,000 after acquiring an additional 6,828 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Up 0.6 %

Shares of NYSE:CCI traded up $0.56 during mid-day trading on Wednesday, reaching $94.34. 1,630,344 shares of the stock were exchanged, compared to its average volume of 2,851,223. The stock’s 50 day simple moving average is $103.09 and its 200-day simple moving average is $105.42. Crown Castle Inc. has a one year low of $84.72 and a one year high of $122.97. The company has a market cap of $40.99 billion, a P/E ratio of 29.34, a P/E/G ratio of 2.54 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 (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $1.91 EPS. The company’s revenue was down 7.4% compared to the same quarter last year. As a group, equities research analysts predict that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.64%. Crown Castle’s payout ratio is currently 195.63%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CCI. Jefferies Financial Group dropped their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. BMO Capital Markets reduced their target price on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Wells Fargo & Company lowered their price target on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft reduced their price objective 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, April 22nd. Finally, Scotiabank decreased their target price 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. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.29.

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.