Leo Wealth LLC Purchases 123 Shares of Crown Castle Inc. (NYSE:CCI)

Leo Wealth LLC increased its holdings in Crown Castle Inc. (NYSE:CCI) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,763 shares of the real estate investment trust’s stock after acquiring an additional 123 shares during the period. Leo Wealth LLC’s holdings in Crown Castle were worth $4,243,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CCI. EntryPoint Capital LLC bought a new position in shares of Crown Castle during the 1st quarter valued at approximately $27,000. Asset Dedication LLC lifted its position in shares of Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares during the last quarter. Beacon Capital Management LLC grew its stake in shares of Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 177 shares during the period. New Millennium Group LLC purchased a new stake in Crown Castle in the 2nd quarter worth about $34,000. Finally, ORG Partners LLC bought a new stake in Crown Castle in the 2nd quarter valued at about $34,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CCI. Jefferies Financial Group increased their target price on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Barclays boosted their target price on shares of Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. BMO Capital Markets lifted their price target on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. The Goldman Sachs Group increased their target price on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada raised their price target on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus target price of $116.47.

Crown Castle Trading Down 0.2 %

CCI traded down $0.25 during trading on Tuesday, hitting $109.94. 1,145,552 shares of the stock traded hands, compared to its average volume of 2,627,222. The firm has a market capitalization of $47.78 billion, a P/E ratio of 39.07 and a beta of 0.85. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month 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 0.43. The firm has a 50-day moving average of $114.02 and a 200 day moving average of $105.20.

Crown Castle (NYSE:CCI) last posted its 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). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. During the same period in the previous year, the business earned $1.77 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts anticipate that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio is presently 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.