Caprock Group LLC Grows Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Caprock Group LLC raised its holdings in Crown Castle Inc. (NYSE:CCI) by 19.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,285 shares of the real estate investment trust’s stock after purchasing an additional 1,802 shares during the quarter. Caprock Group LLC’s holdings in Crown Castle were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CCI. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle in the 3rd quarter valued at approximately $25,000. EntryPoint Capital LLC purchased a new stake in Crown Castle in the 1st quarter valued at approximately $27,000. Asset Dedication LLC boosted its holdings in Crown Castle by 159.0% in the 2nd 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 boosted its holdings in Crown Castle by 163.9% in the 1st 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. Finally, Rosenberg Matthew Hamilton boosted its holdings in Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CCI. Royal Bank of Canada lifted their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. TD Cowen reduced their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. UBS Group lifted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their price target 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. Finally, Barclays lifted their price target on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus target price of $116.87.

Crown Castle Stock Performance

Shares of CCI stock opened at $104.38 on Thursday. Crown Castle Inc. has a 12 month low of $92.48 and a 12 month high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $45.36 billion, a P/E ratio of 37.01 and a beta of 0.86. The company’s fifty day moving average price is $111.16 and its two-hundred day moving average price is $106.70.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 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 firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. On average, research analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.00%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

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.