Foundations Investment Advisors LLC Grows Position in Crown Castle Inc. (NYSE:CCI)

Foundations Investment Advisors LLC raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 20.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,943 shares of the real estate investment trust’s stock after buying an additional 5,812 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Crown Castle were worth $4,027,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. BOKF NA boosted its position in shares of Crown Castle by 25.6% during the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after acquiring an additional 815 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Crown Castle by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock valued at $98,570,000 after acquiring an additional 8,136 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Crown Castle during the 1st quarter valued at about $4,425,000. O Shaughnessy Asset Management LLC boosted its position in shares of Crown Castle by 30.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock valued at $3,789,000 after acquiring an additional 8,346 shares during the last quarter. Finally, Norden Group LLC acquired a new position in shares of Crown Castle during the 1st quarter valued at about $1,804,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 0.4 %

Shares of NYSE:CCI opened at $109.77 on Wednesday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. The firm has a market capitalization of $47.70 billion, a PE ratio of 38.93 and a beta of 0.85. The firm’s 50-day moving average is $114.01 and its two-hundred day moving average is $105.26. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI) last issued 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 return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the company earned $1.77 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Analysts predict that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.70%. Crown Castle’s payout ratio is 221.99%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CCI shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Barclays boosted their price target on shares of Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Royal Bank of Canada upped their target price on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. TD Cowen decreased their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Finally, Wells Fargo & Company upped their target price on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $116.47.

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.