Signaturefd LLC Increases Position in Crown Castle Inc. (NYSE:CCI)

Signaturefd LLC boosted its position in Crown Castle Inc. (NYSE:CCI) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,169 shares of the real estate investment trust’s stock after acquiring an additional 141 shares during the quarter. Signaturefd LLC’s holdings in Crown Castle were worth $2,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CCI. Pinnacle Bancorp Inc. boosted its stake in shares of Crown Castle by 13.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 90 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Crown Castle by 2.4% during the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 91 shares during the last quarter. Prosperity Consulting Group LLC increased its holdings in shares of Crown Castle by 4.4% in the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 95 shares during the period. True North Advisors LLC lifted its stake in shares of Crown Castle by 4.2% in the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its holdings in Crown Castle by 0.5% during the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CCI shares. BMO Capital Markets raised their price target on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lifted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Royal Bank of Canada increased their price target on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group raised their price target 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. Finally, Jefferies Financial Group lifted their price objective on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $116.47.

Crown Castle Trading Down 0.4 %

Shares of NYSE CCI opened at $109.77 on Wednesday. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year 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 0.43. The firm has a 50-day moving average of $114.01 and a 200 day moving average of $105.26. The stock has a market cap of $47.70 billion, a P/E ratio of 38.93 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 for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.77 earnings per share. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio 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.