Anchor Investment Management LLC Acquires 737 Shares of Crown Castle Inc. (NYSE:CCI)

Anchor Investment Management LLC boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 111.7% during the third quarter, HoldingsChannel.com reports. The fund owned 1,397 shares of the real estate investment trust’s stock after purchasing an additional 737 shares during the period. Anchor Investment Management LLC’s holdings in Crown Castle were worth $166,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CCI. ORG Partners LLC bought a new stake in shares of Crown Castle during the second quarter worth $34,000. Assenagon Asset Management S.A. increased its position in Crown Castle by 1.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 17,996 shares of the real estate investment trust’s stock valued at $1,758,000 after acquiring an additional 254 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Crown Castle by 49.2% in the second quarter. Blue Trust Inc. now owns 1,180 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 389 shares during the last quarter. Brookstone Capital Management lifted its position in shares of Crown Castle by 10.8% during the second quarter. Brookstone Capital Management now owns 93,495 shares of the real estate investment trust’s stock worth $9,876,000 after purchasing an additional 9,086 shares in the last quarter. Finally, TCW Group Inc. grew its stake in shares of Crown Castle by 17.1% during the second quarter. TCW Group Inc. now owns 60,999 shares of the real estate investment trust’s stock valued at $5,960,000 after purchasing an additional 8,903 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CCI shares. Jefferies Financial Group upped their price target on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Citigroup set a $128.00 target price on shares of Crown Castle in a research report on Thursday, October 17th. TD Cowen lowered 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 report on Thursday, October 17th. Wells Fargo & Company lowered shares of Crown Castle from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $105.00 to $100.00 in a report on Tuesday. Finally, Royal Bank of Canada lifted their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $116.53.

Crown Castle Stock Down 0.1 %

NYSE CCI opened at $97.10 on Friday. The business has a fifty day moving average price of $106.57 and a two-hundred day moving average price of $107.08. The stock has a market capitalization of $42.20 billion, a PE ratio of 34.43 and a beta of 0.86. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) 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 company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm posted $1.77 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date is Friday, December 13th. Crown Castle’s payout ratio is 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.