Great Valley Advisor Group Inc. Makes New Investment in Crown Castle Inc. (NYSE:CCI)

Great Valley Advisor Group Inc. acquired a new position in Crown Castle Inc. (NYSE:CCI) in the third quarter, Holdings Channel reports. The institutional investor acquired 3,056 shares of the real estate investment trust’s stock, valued at approximately $363,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new position in Crown Castle during the 3rd quarter valued at about $25,000. Asset Dedication LLC grew its holdings in Crown Castle by 159.0% during 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 during the last quarter. Beacon Capital Management LLC grew its stake 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 worth $30,000 after acquiring an additional 177 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake 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 worth $31,000 after acquiring an additional 136 shares in the last quarter. Finally, ORG Partners LLC bought a new position in Crown Castle in the 2nd quarter worth about $34,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CCI shares. The Goldman Sachs Group upped their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Bank of America upped their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Jefferies Financial Group upped their target price on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. UBS Group upped their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, TD Cowen dropped 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 note on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average price target of $116.87.

Crown Castle Trading Up 0.4 %

NYSE:CCI opened at $106.69 on Thursday. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92. The firm has a 50 day moving average of $109.83 and a 200 day moving average of $106.98. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market capitalization of $46.37 billion, a price-to-earnings ratio of 37.83 and a beta of 0.86.

Crown Castle (NYSE:CCI) last posted its earnings results 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 net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company earned $1.77 EPS. The company’s revenue was down .9% on a year-over-year basis. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued 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 5.87%. Crown Castle’s dividend payout ratio is currently 221.99%.

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.