KMG Fiduciary Partners LLC Buys 2,171 Shares of Crown Castle Inc. (NYSE:CCI)

KMG Fiduciary Partners LLC boosted its position in Crown Castle Inc. (NYSE:CCI) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,769 shares of the real estate investment trust’s stock after purchasing an additional 2,171 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Crown Castle were worth $1,703,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in shares of Crown Castle in the 3rd quarter worth $25,000. Rosenberg Matthew Hamilton increased its position in Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares in the last quarter. FNY Investment Advisers LLC raised its stake in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Crown Castle in the third quarter worth about $47,000. Finally, Friedenthal Financial purchased a new stake in shares of Crown Castle during the third quarter worth about $50,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCI has been the subject of several research analyst reports. UBS Group increased their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Citigroup set a $128.00 price target on shares of Crown Castle in a report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Wells Fargo & Company downgraded Crown Castle from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $105.00 to $100.00 in a research report on Tuesday, December 10th. Finally, Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle has a consensus rating of “Hold” and a consensus price target of $113.00.

Crown Castle Price Performance

Shares of NYSE CCI opened at $91.03 on Friday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a market cap of $39.56 billion, a P/E ratio of 32.28 and a beta of 0.87. The business’s 50 day moving average price is $96.96 and its 200 day moving average price is $105.57. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the firm posted $1.77 earnings per share. The company’s revenue was down .9% compared to the same quarter last year. On average, sell-side analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s payout ratio is presently 221.99%.

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.