Crown Castle Inc. (NYSE:CCI) Stock Holdings Lifted by Truvestments Capital LLC

Truvestments Capital LLC lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,366 shares of the real estate investment trust’s stock after buying an additional 1,308 shares during the period. Truvestments Capital LLC’s holdings in Crown Castle were worth $2,772,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CCI. Quent Capital LLC raised its position in shares of Crown Castle by 10.9% during the 1st quarter. Quent Capital LLC now owns 2,346 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 231 shares during the period. EntryPoint Capital LLC acquired a new stake in Crown Castle in the first quarter worth $27,000. CreativeOne Wealth LLC bought a new stake in Crown Castle in the first quarter valued at $209,000. BOKF NA boosted its holdings in shares of Crown Castle by 25.6% during the first 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. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Crown Castle by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,783,020 shares of the real estate investment trust’s stock worth $188,698,000 after acquiring an additional 95,711 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CCI. Barclays lifted their price objective on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. UBS Group lifted their price target on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. TD Cowen decreased their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company lifted their target price on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Bank of America increased their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $116.87.

Crown Castle Price Performance

Shares of NYSE CCI opened at $106.33 on Monday. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a 50-day moving average of $110.60 and a two-hundred day moving average of $106.89. The company has a market capitalization of $46.21 billion, a price-to-earnings ratio of 37.39 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released its 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 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%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.77 earnings per share. As a group, analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

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 paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s dividend payout ratio is presently 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.