GSA Capital Partners LLP Takes $522,000 Position in Crown Castle Inc. (NYSE:CCI)

GSA Capital Partners LLP acquired a new stake in Crown Castle Inc. (NYSE:CCI) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,398 shares of the real estate investment trust’s stock, valued at approximately $522,000.

A number of other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp lifted its position in shares of Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after acquiring an additional 31,319 shares during the period. BOKF NA lifted 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 period. O Shaughnessy Asset Management LLC lifted 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 period. OLD National Bancorp IN lifted its position in shares of Crown Castle by 23.8% during the 2nd quarter. OLD National Bancorp IN now owns 91,118 shares of the real estate investment trust’s stock valued at $8,902,000 after acquiring an additional 17,529 shares during the period. Finally, Kennebec Savings Bank acquired a new position in shares of Crown Castle during the 3rd quarter valued at $633,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

CCI opened at $104.45 on Wednesday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $45.39 billion, a P/E ratio of 37.04 and a beta of 0.86. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The firm has a 50-day moving average of $111.48 and a 200 day moving average of $106.72.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.77 EPS. On average, research analysts expect that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.99%. Crown Castle’s dividend payout ratio is presently 221.99%.

Analyst Ratings Changes

CCI has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Citigroup set a $128.00 price objective on shares of Crown Castle in a report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Jefferies Financial Group increased their target price on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $116.87.

About Crown Castle

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.