Investors Research Corp Has $50,000 Position in Crown Castle Inc. (NYSE:CCI)

Investors Research Corp raised its position in Crown Castle Inc. (NYSE:CCI) by 57.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 423 shares of the real estate investment trust’s stock after purchasing an additional 154 shares during the period. Investors Research Corp’s holdings in Crown Castle were worth $50,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have 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 3rd quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $27,000. Rosenberg Matthew Hamilton raised 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 acquiring an additional 136 shares in the last quarter. Asset Dedication LLC lifted its position in Crown Castle by 159.0% during the second 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 period. Finally, Beacon Capital Management LLC lifted its holdings in shares of 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 worth $30,000 after acquiring an additional 177 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Price Performance

Shares of CCI opened at $104.61 on Friday. The business’s fifty day moving average is $110.87 and its 200 day moving average is $106.69. Crown Castle Inc. has a 12-month low of $92.48 and a 12-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 stock has a market cap of $45.47 billion, a P/E ratio of 37.10 and a beta of 0.86.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the firm posted $1.77 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 5.98%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analysts Set New Price Targets

CCI has been the subject of several research analyst reports. TD Cowen lowered their target price 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. JPMorgan Chase & Co. increased their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Royal Bank of Canada raised 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. Citigroup set a $128.00 price target on shares of Crown Castle in a report on Thursday, October 17th. Finally, Jefferies Financial Group raised their price objective on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.