Kowal Investment Group LLC Acquires 813 Shares of Crown Castle Inc. (NYSE:CCI)

Kowal Investment Group LLC grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 27.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,776 shares of the real estate investment trust’s stock after purchasing an additional 813 shares during the period. Kowal Investment Group LLC’s holdings in Crown Castle were worth $400,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CCI. United Services Automobile Association lifted its stake in Crown Castle by 23.1% during the 3rd quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock valued at $1,234,000 after acquiring an additional 2,516 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Crown Castle by 16.2% during the fourth quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock valued at $523,773,000 after purchasing an additional 632,398 shares in the last quarter. Court Place Advisors LLC bought a new stake in Crown Castle in the 4th quarter worth about $201,000. Global Assets Advisory LLC purchased a new stake in Crown Castle in the 1st quarter valued at about $4,425,000. Finally, International Assets Investment Management LLC increased its stake in Crown Castle by 8,611.0% in the 4th quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock valued at $81,006,000 after buying an additional 695,163 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Jefferies Financial Group lowered their target price 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. Deutsche Bank Aktiengesellschaft decreased their target price on Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Scotiabank dropped their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, Barclays upped their price objective on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $113.53.

Crown Castle Price Performance

Shares of Crown Castle stock traded down $1.88 during trading on Monday, hitting $95.82. The stock had a trading volume of 1,037,340 shares, compared to its average volume of 2,851,189. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $119.50. The firm has a market cap of $41.64 billion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 2.59 and a beta of 0.83. The business’s 50-day moving average is $98.42 and its 200 day moving average is $104.59.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS 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 company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the firm earned $1.91 EPS. Crown Castle’s quarterly revenue was down 7.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.62 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $1.565 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.53%. Crown Castle’s dividend 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.