Crown Castle Inc. (NYSE:CCI) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 864,421 shares of the real estate investment trust’s stock after purchasing an additional 10,426 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Crown Castle were worth $102,546,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new stake in shares of Crown Castle in the third quarter worth $25,000. EntryPoint Capital LLC bought a new stake in Crown Castle during the first quarter valued at $27,000. Rosenberg Matthew Hamilton grew its position in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Asset Dedication LLC grew its position in shares of Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 167 shares during the last quarter. Finally, Beacon Capital Management LLC grew its position in shares of Crown Castle by 163.9% during the first 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 last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of CCI opened at $102.76 on Thursday. The firm has a market cap of $44.66 billion, a PE ratio of 36.44 and a beta of 0.86. The firm’s 50 day moving average price is $112.74 and its 200 day moving average price is $106.43. 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 data 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 business 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 revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 EPS. As a group, research analysts expect that Crown Castle Inc. will post 6.66 EPS for the current fiscal 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 issued a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.09%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group upped their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. TD Cowen reduced their price objective 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. Finally, Barclays raised their target price on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Crown Castle currently has an average rating of “Hold” and an average target price of $116.87.

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.