Coastline Trust Co Takes Position in Crown Castle Inc. (NYSE:CCI)

Coastline Trust Co bought a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 900 shares of the real estate investment trust’s stock, valued at approximately $107,000.

Other hedge funds also recently added to or reduced their stakes in the company. Linscomb Wealth Inc. increased its holdings in shares of Crown Castle by 0.6% during the third quarter. Linscomb Wealth Inc. now owns 54,605 shares of the real estate investment trust’s stock valued at $6,478,000 after acquiring an additional 338 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Crown Castle by 13.5% in the third quarter. Empowered Funds LLC now owns 12,842 shares of the real estate investment trust’s stock worth $1,523,000 after buying an additional 1,531 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Crown Castle by 8.0% during the third quarter. CIBC Asset Management Inc now owns 64,047 shares of the real estate investment trust’s stock worth $7,598,000 after buying an additional 4,737 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Crown Castle by 11.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,867 shares of the real estate investment trust’s stock valued at $1,408,000 after buying an additional 1,187 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its position in shares of Crown Castle by 101.1% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 421,652 shares of the real estate investment trust’s stock valued at $50,021,000 after acquiring an additional 211,933 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Up 0.9 %

Shares of NYSE:CCI opened at $103.80 on Friday. The business’s 50 day moving average price is $112.05 and its 200-day moving average price is $106.53. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92. The firm has a market capitalization of $45.11 billion, a price-to-earnings ratio of 36.81 and a beta of 0.86. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI) last announced 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the business earned $1.77 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

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 given a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.03%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CCI. 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 research note on Thursday, October 17th. Citigroup set a $128.00 price target on shares of Crown Castle in a research report on Thursday, October 17th. The Goldman Sachs Group increased their price objective 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. Barclays boosted their target price on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, UBS Group increased their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.