Fisher Asset Management LLC Has $603.59 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Fisher Asset Management LLC increased its holdings in Crown Castle Inc. (NYSE:CCI) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,088,017 shares of the real estate investment trust’s stock after purchasing an additional 203,442 shares during the period. Fisher Asset Management LLC’s holdings in Crown Castle were worth $603,592,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CCI. Van ECK Associates Corp raised its stake in Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after acquiring an additional 31,319 shares in the last quarter. BOKF NA boosted its position in Crown Castle by 25.6% in the first quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after buying an additional 815 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Crown Castle by 3,111.6% during the third quarter. Quest Partners LLC now owns 13,328 shares of the real estate investment trust’s stock worth $1,581,000 after buying an additional 12,913 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Crown Castle by 7.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,059,300 shares of the real estate investment trust’s stock valued at $125,665,000 after purchasing an additional 77,135 shares in the last quarter. Finally, OLD National Bancorp IN raised its holdings in shares of Crown Castle by 23.8% in the second 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 during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CCI. Royal Bank of Canada increased their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Wells Fargo & Company boosted their price objective on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. The Goldman Sachs Group raised their target price on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Bank of America increased their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, Citigroup set a $128.00 target price on shares of Crown Castle in a report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $116.87.

Crown Castle Stock Up 0.9 %

Shares of CCI opened at $105.44 on Monday. The stock has a market capitalization of $45.82 billion, a price-to-earnings ratio of 37.39 and a beta of 0.86. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a fifty day moving average of $110.60 and a 200-day moving average of $106.89.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.94%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Crown Castle Company 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.