Hobbs Group Advisors LLC Buys 417 Shares of Crown Castle Inc. (NYSE:CCI)

Hobbs Group Advisors LLC grew its stake in Crown Castle Inc. (NYSE:CCI) by 17.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,854 shares of the real estate investment trust’s stock after acquiring an additional 417 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Crown Castle were worth $339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after purchasing an additional 31,319 shares in the last quarter. Fisher Asset Management LLC increased its stake in Crown Castle by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after purchasing an additional 203,442 shares in the last quarter. Quest Partners LLC increased its stake in Crown Castle by 3,111.6% during the 3rd quarter. Quest Partners LLC now owns 13,328 shares of the real estate investment trust’s stock worth $1,581,000 after purchasing an additional 12,913 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Crown Castle by 7.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,059,300 shares of the real estate investment trust’s stock worth $125,665,000 after purchasing an additional 77,135 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Crown Castle by 2,706.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,563 shares of the real estate investment trust’s stock worth $12,523,000 after purchasing an additional 101,801 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Down 1.4 %

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

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 18.59% and a return on equity of 20.98%. The company’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 EPS. Equities analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The business also recently declared 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. This represents a $6.26 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CCI shares. Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $105.00 to $100.00 in a research note on Tuesday. UBS Group raised their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. The Goldman Sachs Group raised their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada raised their price target on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Finally, TD Cowen decreased their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.