Crown Castle Inc. (NYSE:CCI) Shares Purchased by Barnett & Company Inc.

by · The Cerbat Gem

Barnett & Company Inc. lifted its stake in Crown Castle Inc. (NYSE:CCI – Free Report) by 10.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,540 shares of the real estate investment trust’s stock after purchasing an additional 1,100 shares during the quarter. Barnett & Company Inc.’s holdings in Crown Castle were worth $1,369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Catalyst Capital Advisors LLC acquired a new stake in shares of Crown Castle in the third quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in shares of Crown Castle during the first quarter worth $27,000. Asset Dedication LLC increased its holdings in shares of 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 acquiring an additional 167 shares during the last quarter. Beacon Capital Management LLC raised its holdings in Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 177 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of 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 purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup set a $128.00 target price on shares of Crown Castle in a report on Thursday, October 17th. Bank of America raised their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. UBS Group lifted their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price target 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, Jefferies Financial Group raised their price target on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating 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 data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $116.87.

Read Our Latest Stock Analysis on CCI

Crown Castle Stock Down 1.7 %

Shares of NYSE CCI traded down $1.76 during trading on Tuesday, reaching $102.34. 406,194 shares of the stock were exchanged, compared to its average volume of 2,600,565. 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 company has a market capitalization of $44.48 billion, a price-to-earnings ratio of 36.91 and a beta of 0.86. The business’s 50-day moving average price is $112.96 and its 200 day moving average price is $106.37.

Crown Castle (NYSE:CCI – Get Free Report) 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 net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the company posted $1.77 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. As a group, equities analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company 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 dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.12%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

About Crown Castle

(Free Report)

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.

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