Crown Castle Inc. (NYSE:CCI) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,651 shares of the real estate investment trust’s stock after purchasing an additional 288 shares during the period. Brown Brothers Harriman & Co.’s holdings in Crown Castle were worth $433,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in shares of Crown Castle by 24.7% in 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 buying an additional 31,319 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after buying an additional 203,442 shares during the period. Quest Partners LLC boosted its holdings in shares of Crown Castle by 3,111.6% in 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 during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Crown Castle by 7.9% in the third quarter. Thrivent Financial for Lutherans now owns 1,059,300 shares of the real estate investment trust’s stock worth $125,665,000 after buying an additional 77,135 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Crown Castle by 2,706.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,563 shares of the real estate investment trust’s stock worth $12,523,000 after buying an additional 101,801 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CCI shares. UBS Group raised their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Citigroup set a $128.00 price target on shares of Crown Castle in a report on Thursday, October 17th. The Goldman Sachs Group raised their price target 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. Royal Bank of Canada raised their price target on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Barclays raised their price target 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $116.87.

Crown Castle Trading Up 0.4 %

NYSE:CCI opened at $106.69 on Thursday. Crown Castle Inc. has a 12 month low of $92.48 and a 12 month high of $120.92. The firm has a market cap of $46.37 billion, a price-to-earnings ratio of 37.83 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 company’s 50 day moving average is $109.83 and its 200-day moving average is $106.98.

Crown Castle (NYSE:CCI) last released its quarterly 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the business earned $1.77 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio is 221.99%.

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.