Ballentine Partners LLC Increases Stake in Crown Castle Inc. (NYSE:CCI)

Ballentine Partners LLC grew its position in Crown Castle Inc. (NYSE:CCI) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,192 shares of the real estate investment trust’s stock after acquiring an additional 522 shares during the period. Ballentine Partners LLC’s holdings in Crown Castle were worth $1,090,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC purchased a new stake in Crown Castle in the 1st quarter valued at approximately $27,000. Asset Dedication LLC boosted its stake in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares in the last quarter. Beacon Capital Management LLC grew its holdings in Crown Castle by 163.9% during the first 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 during the period. ORG Partners LLC purchased a new position in Crown Castle in the second quarter worth $34,000. Finally, New Millennium Group LLC acquired a new stake in Crown Castle in the second quarter valued at $34,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target 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. 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 report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Bank of America upped their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, TD Cowen reduced their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $116.47.

Crown Castle Stock Down 2.3 %

CCI opened at $108.91 on Friday. The firm has a market cap of $47.33 billion, a P/E ratio of 38.62 and a beta of 0.85. The business’s fifty day simple moving average is $114.05 and its 200 day simple moving average is $105.41. Crown Castle Inc. has a 52 week low of $87.38 and a 52 week high of $120.92. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

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). The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $1.77 earnings per share. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio is presently 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.