Hexagon Capital Partners LLC Has $148,000 Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Hexagon Capital Partners LLC boosted its stake in Crown Castle Inc. (NYSE:CCI) by 24.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,398 shares of the real estate investment trust’s stock after purchasing an additional 273 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Crown Castle were worth $148,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Kowal Investment Group LLC grew its holdings in shares of Crown Castle by 27.4% during the first quarter. Kowal Investment Group LLC now owns 3,776 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 813 shares during the last quarter. Mirador Capital Partners LP acquired a new position in shares of Crown Castle during the first quarter valued at about $265,000. SteelPeak Wealth LLC grew its holdings in shares of Crown Castle by 239.4% during the first quarter. SteelPeak Wealth LLC now owns 9,433 shares of the real estate investment trust’s stock valued at $998,000 after buying an additional 6,654 shares during the last quarter. Financial Partners Group LLC acquired a new position in shares of Crown Castle during the first quarter valued at about $6,612,000. Finally, Fiduciary Alliance LLC grew its holdings in shares of Crown Castle by 9.1% during the first quarter. Fiduciary Alliance LLC now owns 87,711 shares of the real estate investment trust’s stock valued at $9,145,000 after buying an additional 7,283 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

CCI stock traded down $1.72 during mid-day trading on Monday, hitting $95.98. The company had a trading volume of 2,120,439 shares, compared to its average volume of 2,859,854. The firm has a market cap of $41.71 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 2.59 and a beta of 0.83. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $119.50. The stock’s fifty day moving average price is $98.42 and its two-hundred day moving average price is $104.59.

Crown Castle (NYSE:CCI) last posted 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). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned $1.91 EPS. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, analysts forecast that Crown Castle Inc. will post 6.62 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.52%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of analyst reports. Bank of America reduced their price objective on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Wells Fargo & Company dropped 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 report on Friday, April 19th. Raymond James reissued an “outperform” rating and set a $126.00 price target (up from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Royal Bank of Canada dropped their price target on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 7th. Finally, Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $113.53.

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.