Retirement Systems of Alabama Has $64.68 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Retirement Systems of Alabama lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 0.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 561,466 shares of the real estate investment trust’s stock after selling 2,409 shares during the quarter. Retirement Systems of Alabama’s holdings in Crown Castle were worth $64,675,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Dakota Community Bank & Trust NA lifted its holdings in shares of Crown Castle by 4.2% during the third quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock worth $204,000 after purchasing an additional 90 shares during the period. Valley National Advisers Inc. lifted its holdings 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 period. Pinnacle Bancorp Inc. lifted its holdings in shares of Crown Castle by 17.3% during 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 during the period. Waterfront Wealth Inc. lifted its holdings in shares of 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 worth $635,000 after purchasing an additional 101 shares during the period. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Crown Castle by 0.5% during the third quarter. Raleigh Capital Management Inc. now owns 18,986 shares of the real estate investment trust’s stock worth $1,747,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 0.7 %

CCI traded down $0.63 during midday trading on Friday, hitting $93.58. The company had a trading volume of 2,697,322 shares, compared to its average volume of 2,940,738. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $123.79. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The company has a market capitalization of $40.66 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 2.49 and a beta of 0.73. The stock’s 50 day moving average price is $103.65 and its 200 day moving average price is $105.34.

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 for the quarter, missing the consensus estimate of $1.63 by ($0.92). The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period last year, the firm posted $1.91 earnings per share. On average, research analysts anticipate that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.69%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is presently 195.63%.

Wall Street Analyst Weigh In

CCI has been the topic of a number of recent research reports. Jefferies Financial Group cut their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Wells Fargo & Company lowered their target price on shares of 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. Bank of America lowered their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Finally, BMO Capital Markets lowered their target price on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. Eleven investment 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 stock has a consensus rating of “Hold” and a consensus price target of $113.29.

Crown Castle Company 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.