Ferguson Wellman Capital Management Inc. Sells 87,350 shares of Crown Castle Inc. stock. (NYSE:CCI)

Ferguson Wellman Capital Management Inc. lowered… Its interest in Crown Castle Inc. (NYSE:CCI – Free Report) rose 43.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 115,356 shares of the Real Estate Investment Fund after selling 87,350 shares during the quarter. The value of Ferguson Wellman Capital Management Inc.’s holdings was… Crown Castle has $13,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Almanac Investment Partners LLC. Acquired a new position in Crown Castle during the third quarter worth approximately $28,000. Gray Fox Wealth Advisors LLC acquired a new position in shares of Crown Castle in the fourth quarter valued at $29,000. Centerpoint Advisors LLC acquired a new position in shares of Crown Castle in the first quarter valued at $29,000. ST Germain bought DJ Co. Inc. New stake in Crown Castle shares in the fourth quarter valued at $31,000. Finally, US National Bank raised its stake in Crown Castle by 234.2% during the first quarter. American National Bank now owns 244 shares of the Real Estate Investment Fund, worth $33,000, after purchasing an additional 171 shares during that period. Institutional investors and hedge funds own 90.27% of the company’s shares.

Wall Street analysts expect growth

Several stock analysts have recently issued reports on CCI stock. Citigroup lowered their price target on Crown Castle from $162.00 to $138.00 in a research report on Thursday, July 20th. Barclays lowered their price target on Crown Castle from $137.00 to $116.00 and set an “equal weight” rating for the company in a research report on Monday, July 24th. Bank of America downgraded Crown Castle from a “buy” rating to a “neutral” rating and set a $115.00 price target for the company. In a research report on Thursday, August 10th. The Argus began coverage of Crown Castle in a research report on Wednesday, August 2nd. They issued a “buy” rating and a $140.00 price target for the company. Finally, Raymond James cut their price target on Crown Castle from $128.00 to $126.00 and set an “outperform” rating for the company in a research report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $138.56.

View our latest analysis for Crown Castle

Crown Castle stock performance

CCI’s stock price fell $0.22 during trading hours on Friday to $98.41. The trading volume of the company’s shares reached 4,574,539 shares, compared to an average trading volume of 2,696,847 shares. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.50 and a current ratio of 0.50. The company’s 50 day moving average is $104.55 and its 200 day moving average is $115.59. At Crown Castle Inc. The 52-week low is $95.73 and the 52-week high is $164.23. The company has a market capitalization of $42.68 billion, a P/E ratio of 24.98 and a beta of 0.64.

Crown Castle (NYSE:CCI – Get Free Report) last released its quarterly earnings data on Thursday, July 20th. The real estate investment trust reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.79 ($0.74). Crown Castle had a net margin of 23.85% and a return on equity of 23.20%. The company achieved revenues of $1.87 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period a year earlier, the company generated earnings of $1.80 per share. The company’s quarterly revenue increased by 7.7% compared to the same quarter last year. On average, stock analysts expect Crown Castle Inc. Posting 7.13 earnings per share for the current year.

Crown Castle announces dividends

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. A dividend will be issued to shareholders of record on Friday, September 15, in the amount of $1,565 per share. This represents an annual dividend of $6.26 and a dividend yield of 6.36%. The ex-dividend date is Thursday, September 14th. Crown Castle’s dividend payout ratio (DPR) is currently 158.88%.

About Al Taj Castle

(Free report)

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 85,000 miles of fiber supporting small cells and fiber solutions across every major market in the United States. This national portfolio of communications infrastructure connects cities and communities with essential data, technology and wireless services – bringing information, ideas and innovations to the people and businesses who need it.

Read more

Want to see what other hedge funds CCI holds? Visit HoldingsChannel.com for the latest 13F filings and insider deals for Crown Castle Inc. (NYSE:CCI – Free Report).

Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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