CWA Asset Management Group LLC Makes New $311,000 Investment in Crown Castle Inc. (NYSE:CCI)

CWA Asset Management Group LLC purchased a new stake in Crown Castle Inc. (NYSE:CCI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,623 shares of the real estate investment trust’s stock, valued at approximately $311,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. grew its holdings 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 buying an additional 90 shares during the period. Pathway Financial Advisers LLC grew its holdings in shares of Crown Castle by 2.4% in the 2nd 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 period. Prosperity Consulting Group LLC grew its holdings in shares of Crown Castle by 4.4% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 95 shares during the period. True North Advisors LLC grew its holdings 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 buying an additional 95 shares during the period. Finally, Granite Investment Partners LLC grew its holdings in shares of Crown Castle by 0.5% in 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 buying an additional 100 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 1.7 %

Shares of CCI stock opened at $102.29 on Wednesday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The firm’s 50-day moving average is $112.96 and its 200-day moving average is $106.37. The stock has a market cap of $44.46 billion, a price-to-earnings ratio of 36.91 and a beta of 0.86. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm 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 18.59% and a return on equity of 20.98%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.77 earnings per share. Sell-side analysts predict that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.12%. Crown Castle’s payout ratio is 221.99%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CCI. TD Cowen decreased their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. The Goldman Sachs Group upped 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upped 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. Finally, Barclays upped their target price on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. 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 stock presently has a consensus rating of “Hold” and an average price target of $116.87.

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.