Bard Financial Services Inc. Has $1.11 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Bard Financial Services Inc. lessened its position in Crown Castle Inc. (NYSE:CCI) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,355 shares of the real estate investment trust’s stock after selling 105 shares during the period. Bard Financial Services Inc.’s holdings in Crown Castle were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Crown Castle by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock worth $5,990,991,000 after acquiring an additional 673,243 shares during the period. Cohen & Steers Inc. increased its holdings in shares of Crown Castle by 7.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock worth $1,310,559,000 after purchasing an additional 834,198 shares during the period. Wellington Management Group LLP increased its holdings in shares of Crown Castle by 11.1% during the 4th quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock worth $1,297,147,000 after purchasing an additional 1,126,394 shares during the period. Legal & General Group Plc increased its holdings in shares of Crown Castle by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after purchasing an additional 67,072 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of Crown Castle by 16.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock worth $523,773,000 after purchasing an additional 632,398 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

NYSE:CCI traded down $2.81 on Friday, reaching $111.48. The stock had a trading volume of 3,314,710 shares, compared to its average volume of 2,569,105. The company has a market capitalization of $48.45 billion, a P/E ratio of 34.84 and a beta of 0.85. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $120.92. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. The stock has a fifty day moving average price of $113.83 and a 200-day moving average price of $104.55.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the business earned $2.05 earnings per share. The company’s revenue for the quarter was down 12.9% compared to the same quarter last year. Research analysts forecast that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.62%. Crown Castle’s payout ratio is 195.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CCI. Raymond James restated an “outperform” rating and set a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. JPMorgan Chase & Co. boosted 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. The Goldman Sachs Group boosted 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. Royal Bank of Canada upped their target price on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Finally, Bank of America upped their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Crown Castle has a consensus rating of “Hold” and an average target price of $115.40.

Insider Transactions at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is owned by company insiders.

Crown Castle Company 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.