Apollon Wealth Management LLC Boosts Stake in Crown Castle Inc. (NYSE:CCI)

Apollon Wealth Management LLC increased its stake in Crown Castle Inc. (NYSE:CCI) by 2.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,696 shares of the real estate investment trust’s stock after acquiring an additional 238 shares during the period. Apollon Wealth Management LLC’s holdings in Crown Castle were worth $1,388,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new position in shares of Crown Castle during the 3rd quarter valued at about $25,000. EntryPoint Capital LLC bought a new stake in Crown Castle in the 1st quarter worth approximately $27,000. Asset Dedication LLC lifted its position in Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares during the last quarter. Beacon Capital Management LLC lifted its position in Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 177 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its position in Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. UBS Group boosted their target price on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. TD Cowen decreased their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price target on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group lifted their price target on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, BMO Capital Markets lifted their price target on Crown Castle from $105.00 to $108.00 and gave the stock 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $116.87.

Crown Castle Trading Up 0.1 %

NYSE CCI opened at $102.90 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. The firm has a market capitalization of $44.72 billion, a PE ratio of 36.49 and a beta of 0.86. The stock’s 50 day moving average is $112.51 and its 200 day moving average is $106.41.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm posted $1.77 earnings per share. The company’s revenue was down .9% compared to the same quarter last year. Research analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.08%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is 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.