Stephens Inc. AR Grows Position in Crown Castle Inc. (NYSE:CCI)

Stephens Inc. AR increased its holdings in Crown Castle Inc. (NYSE:CCI) by 11.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 75,648 shares of the real estate investment trust’s stock after buying an additional 7,702 shares during the quarter. Stephens Inc. AR’s holdings in Crown Castle were worth $8,974,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Rosenberg Matthew Hamilton grew its stake in shares of Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares during the period. Financial Advocates Investment Management boosted its holdings in Crown Castle by 3.7% in the third quarter. Financial Advocates Investment Management now owns 4,967 shares of the real estate investment trust’s stock worth $589,000 after purchasing an additional 176 shares during the last quarter. Oak Harvest Investment Services bought a new stake in Crown Castle in the 3rd quarter worth approximately $1,542,000. SteelPeak Wealth LLC raised its stake in Crown Castle by 239.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 10,840 shares of the real estate investment trust’s stock valued at $1,286,000 after buying an additional 7,647 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of Crown Castle by 592.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 26,810 shares of the real estate investment trust’s stock valued at $3,180,000 after buying an additional 22,941 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CCI. The Goldman Sachs Group lifted their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada boosted their target price on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Finally, TD Cowen dropped their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Crown Castle has an average rating of “Hold” and an average target price of $116.87.

Crown Castle Stock Performance

NYSE CCI opened at $106.58 on Friday. The company has a quick ratio of 0.43, 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 business has a 50-day moving average price of $113.78 and a 200-day moving average price of $105.74. The firm has a market cap of $46.32 billion, a price-to-earnings ratio of 37.79 and a beta of 0.86.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). The business 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 company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.77 earnings per share. As a group, equities research analysts predict that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.87%. Crown Castle’s dividend payout ratio is currently 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.