Mine & Arao Wealth Creation & Management LLC. Reduces Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Mine & Arao Wealth Creation & Management LLC. cut its holdings in Crown Castle Inc. (NYSE:CCI) by 7.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Dakota Community Bank & Trust NA boosted its stake in 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 fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 97 shares during the last quarter. Pinnacle Bancorp Inc. grew its stake in Crown Castle by 17.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 677 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 100 shares in the last quarter. Waterfront Wealth Inc. raised its stake in Crown Castle by 1.9% during the fourth quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock valued at $635,000 after buying an additional 101 shares in the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in Crown Castle by 0.5% during the 3rd quarter. Raleigh Capital Management Inc. now owns 18,986 shares of the real estate investment trust’s stock worth $1,747,000 after buying an additional 103 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCI has been the topic of several research reports. Bank of America dropped their price target on Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Barclays increased their price objective on shares of Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada lifted their target price on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. Finally, Jefferies Financial Group dropped their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $113.29.

Crown Castle Price Performance

CCI stock traded up $0.56 during trading on Wednesday, hitting $94.34. The company had a trading volume of 1,630,344 shares, compared to its average volume of 2,851,223. The firm has a market capitalization of $40.99 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 2.54 and a beta of 0.73. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $122.97. The business has a 50 day moving average of $103.09 and a 200 day moving average of $105.42.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results 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). The firm had revenue of $1.64 billion for 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%. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 earnings per share. As a group, research analysts predict that Crown Castle Inc. will post 6.59 earnings per share 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 issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is 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.