8,751 Shares in Crown Castle Inc. (NYSE:CCI) Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB bought a new stake in shares of Crown Castle Inc. (NYSE:CCI) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,751 shares of the real estate investment trust’s stock, valued at approximately $1,038,000.

A number of other large investors also recently made changes to their positions in CCI. ORG Partners LLC purchased a new stake in Crown Castle in the 2nd quarter worth approximately $34,000. Assenagon Asset Management S.A. raised its holdings in shares of Crown Castle by 1.4% during the second quarter. Assenagon Asset Management S.A. now owns 17,996 shares of the real estate investment trust’s stock worth $1,758,000 after acquiring an additional 254 shares in the last quarter. Blue Trust Inc. boosted its position in Crown Castle by 49.2% during the second quarter. Blue Trust Inc. now owns 1,180 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 389 shares during the last quarter. Dakota Wealth Management grew its stake in Crown Castle by 11.8% in the second quarter. Dakota Wealth Management now owns 6,996 shares of the real estate investment trust’s stock valued at $684,000 after purchasing an additional 739 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Crown Castle in the 2nd quarter worth about $238,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CCI. The Goldman Sachs Group lifted their price target on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Citigroup set a $128.00 target price on shares of Crown Castle in a research report on Thursday, October 17th. Royal Bank of Canada raised their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Jefferies Financial Group lifted their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $117.00.

Crown Castle Price Performance

NYSE CCI opened at $97.11 on Friday. The stock has a market capitalization of $42.20 billion, a PE ratio of 34.44 and a beta of 0.86. The stock has a 50-day simple moving average of $106.57 and a 200 day simple moving average of $107.14. 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 Inc. has a twelve month low of $92.48 and a twelve month high of $120.92.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results 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). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.77 earnings per share. Research analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.45%. Crown Castle’s dividend 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.