Crown Castle Inc. (NYSE:CCI) Stake Lifted by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,419 shares of the real estate investment trust’s stock after acquiring an additional 673 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Crown Castle were worth $880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Catalyst Capital Advisors LLC bought a new position in shares of Crown Castle in the third quarter valued at $25,000. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle during the first quarter valued at $27,000. Asset Dedication LLC lifted its position in shares of Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 167 shares during the last quarter. Beacon Capital Management LLC boosted its stake in Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 177 shares during the period. Finally, Rosenberg Matthew Hamilton grew its holdings 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 valued at $31,000 after buying an additional 136 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Trading Up 0.9 %

CCI stock opened at $103.80 on Friday. Crown Castle Inc. has a 1-year low of $92.48 and a 1-year high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The business’s 50 day moving average is $112.29 and its 200-day moving average is $106.38. The firm has a market cap of $45.11 billion, a P/E ratio of 36.62 and a beta of 0.86.

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 for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company’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. Equities analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.03%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada upped their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Bank of America upped their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Jefferies Financial Group raised their price target on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Barclays increased 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 note on Friday, November 1st. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus target price of $116.87.

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.