Cerity Partners LLC Has $9.06 Million Position in Crown Castle Inc. (NYSE:CCI)

Cerity Partners LLC lifted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 31.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 76,343 shares of the real estate investment trust’s stock after buying an additional 18,176 shares during the quarter. Cerity Partners LLC’s holdings in Crown Castle were worth $9,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CCI. Catalyst Capital Advisors LLC acquired a new stake in Crown Castle during the third quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new stake in Crown Castle during the 1st quarter worth approximately $27,000. Asset Dedication LLC boosted its stake 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 valued at $27,000 after purchasing an additional 167 shares during the period. Beacon Capital Management LLC grew its holdings 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 valued at $30,000 after buying an additional 177 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its position in Crown Castle by 107.9% during 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 period. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the subject of a number of recent research reports. UBS Group boosted their target price on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. TD Cowen lowered their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Barclays boosted their price target on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Citigroup set a $128.00 price objective on Crown Castle in a research note on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $116.87.

Crown Castle Price Performance

Shares of CCI stock opened at $106.30 on Wednesday. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The business has a fifty day simple moving average of $110.06 and a 200 day simple moving average of $106.98. The company has a market cap of $46.20 billion, a P/E ratio of 37.69 and a beta of 0.86.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm’s revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $1.77 EPS. On average, sell-side analysts forecast that Crown Castle Inc. will post 6.66 EPS 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 paid a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.89%. Crown Castle’s 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.