Consolidated Portfolio Review Corp Buys 440 Shares of Crown Castle Inc. (NYSE:CCI)

Consolidated Portfolio Review Corp lifted its position in Crown Castle Inc. (NYSE:CCI) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,563 shares of the real estate investment trust’s stock after acquiring an additional 440 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Crown Castle were worth $1,372,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in Crown Castle in the first quarter worth about $27,000. Asset Dedication LLC increased its stake 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 worth $27,000 after purchasing an additional 167 shares during the last quarter. Beacon Capital Management LLC raised its holdings in shares of Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 177 shares during the period. ORG Partners LLC bought a new position in Crown Castle during the second quarter valued at $34,000. Finally, New Millennium Group LLC bought a new stake in shares of Crown Castle in the second quarter valued at $34,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CCI. UBS Group boosted their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Bank of America lifted their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Wells Fargo & Company boosted their price objective 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. Barclays increased their price objective on Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, 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. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $116.47.

Crown Castle Price Performance

CCI stock traded down $2.54 during mid-day trading on Friday, hitting $108.91. 1,873,838 shares of the stock were exchanged, compared to its average volume of 2,637,974. The business has a fifty day moving average price of $114.05 and a 200 day moving average price of $105.41. The stock has a market capitalization of $47.33 billion, a price-to-earnings ratio of 38.62 and a beta of 0.85. Crown Castle Inc. has a 12 month low of $87.38 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.

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 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 business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 earnings per share. On average, sell-side analysts anticipate that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

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.