Citizens Business Bank Acquires New Position in Crown Castle Inc. (NYSE:CCI)

Citizens Business Bank acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,230 shares of the real estate investment trust’s stock, valued at approximately $620,000.

A number of other institutional investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its holdings in Crown Castle by 12.8% in the second quarter. Sequoia Financial Advisors LLC now owns 8,013 shares of the real estate investment trust’s stock valued at $783,000 after acquiring an additional 909 shares during the last quarter. Wedmont Private Capital purchased a new position in shares of Crown Castle during the 2nd quarter worth $218,000. ORG Partners LLC acquired a new stake in shares of Crown Castle during the 2nd quarter worth about $34,000. Abundance Wealth Counselors raised its holdings in Crown Castle by 22.6% in the 2nd quarter. Abundance Wealth Counselors now owns 9,460 shares of the real estate investment trust’s stock valued at $924,000 after buying an additional 1,741 shares during the period. Finally, Vanderbilt University lifted its position in Crown Castle by 9.7% in the second quarter. Vanderbilt University now owns 29,983 shares of the real estate investment trust’s stock valued at $2,929,000 after buying an additional 2,648 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $100.60 on Wednesday. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92. The stock has a market capitalization of $43.72 billion, a price-to-earnings ratio of 35.67 and a beta of 0.86. The company has a 50-day simple moving average of $107.87 and a 200-day simple moving average of $107.18. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle (NYSE:CCI) last released its quarterly 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 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 analysts’ expectations of $1.64 billion. During the same quarter last year, the company earned $1.77 EPS. Crown Castle’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts predict that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.22%. Crown Castle’s dividend payout ratio is currently 221.99%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CCI shares. The Goldman Sachs Group lifted their price target on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. Royal Bank of Canada raised their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. UBS Group boosted their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays raised their target price on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $116.53.

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.