CX Institutional Acquires 269 Shares of Crown Castle Inc. (NYSE:CCI)

CX Institutional boosted its stake in Crown Castle Inc. (NYSE:CCI) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,612 shares of the real estate investment trust’s stock after acquiring an additional 269 shares during the period. CX Institutional’s holdings in Crown Castle were worth $310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CCI. Fiduciary Alliance LLC increased its position in shares of Crown Castle by 4.9% during the third quarter. Fiduciary Alliance LLC now owns 88,879 shares of the real estate investment trust’s stock worth $10,544,000 after buying an additional 4,120 shares during the period. Stablepoint Partners LLC boosted its position in Crown Castle by 0.8% during the third quarter. Stablepoint Partners LLC now owns 46,887 shares of the real estate investment trust’s stock valued at $5,562,000 after acquiring an additional 392 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Crown Castle by 9.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,668 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 149 shares during the period. Gilman Hill Asset Management LLC raised its position in shares of Crown Castle by 5.3% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 39,958 shares of the real estate investment trust’s stock worth $4,740,000 after acquiring an additional 2,028 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. lifted its stake in shares of Crown Castle by 27.7% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 2,445 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 531 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 3.4 %

Crown Castle stock opened at $111.75 on Friday. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The firm’s 50-day simple moving average is $114.00 and its 200 day simple moving average is $105.05. The stock has a market cap of $48.56 billion, a PE ratio of 40.93 and a beta of 0.85.

Crown Castle (NYSE:CCI) last released its 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). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company earned $1.77 earnings per share. Research analysts predict that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is currently 229.30%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Jefferies Financial Group raised their target price on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group increased 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 raised their price target on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Barclays upped their price objective on shares of Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets raised their target price on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and a consensus price target of $115.29.

Insider Buying and Selling

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the 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 completion of the transaction, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at $7,792,172.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by corporate 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.