Crestwood Advisors Group LLC Acquires 5,554 Shares of Crown Castle Inc. (NYSE:CCI)

Crestwood Advisors Group LLC boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 240,511 shares of the real estate investment trust’s stock after purchasing an additional 5,554 shares during the quarter. Crestwood Advisors Group LLC owned about 0.06% of Crown Castle worth $28,531,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. BOKF NA lifted its position in shares of Crown Castle by 25.6% during the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after acquiring an additional 815 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of Crown Castle by 30.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock valued at $3,789,000 after purchasing an additional 8,346 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Crown Castle by 21.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 517,964 shares of the real estate investment trust’s stock worth $54,816,000 after purchasing an additional 91,404 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Crown Castle by 64.5% in the 1st quarter. Russell Investments Group Ltd. now owns 627,544 shares of the real estate investment trust’s stock valued at $66,402,000 after buying an additional 246,043 shares during the period. Finally, OLD National Bancorp IN increased its position in Crown Castle by 23.8% in the 2nd quarter. OLD National Bancorp IN now owns 91,118 shares of the real estate investment trust’s stock valued at $8,902,000 after buying an additional 17,529 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Performance

CCI stock traded down $0.33 during midday trading on Tuesday, hitting $108.03. The company’s stock had a trading volume of 56,003 shares, compared to its average volume of 2,605,358. The stock has a market cap of $46.95 billion, a price-to-earnings ratio of 38.43 and a beta of 0.86. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock’s 50-day moving average price is $113.69 and its 200 day moving average price is $106.01. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). The company had revenue of $1.65 billion for 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%. Crown Castle’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 EPS. On average, equities analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.79%. Crown Castle’s payout ratio is 221.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CCI. BMO Capital Markets raised their price objective on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. 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. Royal Bank of Canada raised their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. The Goldman Sachs Group boosted their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, UBS Group raised their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $116.87.

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.