Kestra Investment Management LLC Takes $297,000 Position in Crown Castle Inc. (NYSE:CCI)

Kestra Investment Management LLC acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,504 shares of the real estate investment trust’s stock, valued at approximately $297,000.

Other institutional investors have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC bought a new position in shares of Crown Castle during the third quarter worth $25,000. Asset Dedication LLC raised its stake in 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 buying an additional 167 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in Crown Castle by 107.9% during 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 in the last quarter. ORG Partners LLC acquired a new position in Crown Castle in the second quarter valued at about $34,000. Finally, New Millennium Group LLC bought a new stake in shares of Crown Castle in the second quarter worth about $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CCI. The Goldman Sachs Group lifted their price objective on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Royal Bank of Canada lifted their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. TD Cowen lowered their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Bank of America boosted their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company increased their target price on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $116.87.

Crown Castle Stock Down 0.9 %

CCI stock opened at $105.30 on Tuesday. The company has a market cap of $45.76 billion, a price-to-earnings ratio of 37.34 and a beta of 0.86. 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 $109.48 and a two-hundred day moving average price of $107.09. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI) last released its 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the business posted $1.77 earnings per share. Crown Castle’s quarterly revenue was down .9% compared to the same quarter last year. Analysts anticipate that Crown Castle Inc. will post 6.66 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. Investors of record on Friday, December 13th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 5.94%. Crown Castle’s dividend payout ratio (DPR) 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.