Sequoia Financial Advisors LLC Boosts Stock Position in Crown Castle Inc. (NYSE:CCI)

Sequoia Financial Advisors LLC grew its stake in Crown Castle Inc. (NYSE:CCI) by 5.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,429 shares of the real estate investment trust’s stock after purchasing an additional 416 shares during the period. Sequoia Financial Advisors LLC’s holdings in Crown Castle were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle in the first quarter valued at approximately $27,000. Asset Dedication LLC grew its position in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares in the last quarter. Beacon Capital Management LLC grew its position in shares of Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 177 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Crown Castle in the second quarter valued at approximately $34,000. Finally, New Millennium Group LLC purchased a new position in Crown Castle in the second quarter worth approximately $34,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Down 2.3 %

Shares of NYSE CCI opened at $108.91 on Friday. The stock has a market cap of $47.33 billion, a P/E ratio of 38.62 and a beta of 0.85. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $87.38 and a 12-month high of $120.92. The business’s fifty day simple moving average is $114.06 and its 200-day simple moving average is $105.34.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the business posted $1.77 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. As a group, equities analysts predict that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CCI shares. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. BMO Capital Markets increased their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Barclays increased their price objective on Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their price objective on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.