Crown Castle Inc. (NYSE:CCI) Stock Holdings Increased by Townsquare Capital LLC

Townsquare Capital LLC raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 25.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,853 shares of the real estate investment trust’s stock after purchasing an additional 1,203 shares during the quarter. Townsquare Capital LLC’s holdings in Crown Castle were worth $694,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in shares of Crown Castle by 12.8% during the first quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 108 shares during the period. Mather Group LLC. raised its holdings in Crown Castle by 25.9% during the 2nd quarter. Mather Group LLC. now owns 1,362 shares of the real estate investment trust’s stock worth $144,000 after buying an additional 280 shares during the period. Park Avenue Securities LLC lifted its stake in Crown Castle by 43.9% during the second quarter. Park Avenue Securities LLC now owns 41,503 shares of the real estate investment trust’s stock valued at $4,055,000 after buying an additional 12,663 shares in the last quarter. CWM LLC boosted its holdings in shares of Crown Castle by 10.3% in the second quarter. CWM LLC now owns 13,253 shares of the real estate investment trust’s stock worth $1,295,000 after buying an additional 1,239 shares during the period. Finally, MADDEN SECURITIES Corp increased its position in shares of Crown Castle by 12.7% in the second quarter. MADDEN SECURITIES Corp now owns 11,952 shares of the real estate investment trust’s stock worth $1,168,000 after acquiring an additional 1,345 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 0.6 %

CCI stock opened at $104.69 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market cap of $45.50 billion, a PE ratio of 37.12 and a beta of 0.86. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92. The company has a fifty day simple moving average of $109.00 and a 200 day simple moving average of $107.11.

Crown Castle (NYSE:CCI) last released its quarterly earnings results 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 return on equity of 20.98% and a net margin of 18.59%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company posted $1.77 EPS. The business’s revenue was down .9% compared to the same quarter last year. Sell-side analysts anticipate that Crown Castle Inc. will post 6.66 EPS 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 dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 5.98%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Wall Street Analysts Forecast Growth

CCI has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their target price on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Bank of America lifted their price target on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. increased their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, TD Cowen lowered their target price on 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $116.87.

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.