Crown Castle Inc. (NYSE:CCI) Shares Bought by Bard Financial Services Inc.

Bard Financial Services Inc. raised its holdings in Crown Castle Inc. (NYSE:CCI) by 6.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,080 shares of the real estate investment trust’s stock after acquiring an additional 620 shares during the quarter. Bard Financial Services Inc.’s holdings in Crown Castle were worth $1,196,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CCI. Catalyst Capital Advisors LLC acquired a new stake in Crown Castle in the third quarter valued at $25,000. Asset Dedication LLC increased its position in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in shares of Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Crown Castle in the second quarter valued at $34,000. Finally, New Millennium Group LLC purchased a new position in shares of Crown Castle in the second quarter valued at $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CCI shares. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Citigroup set a $128.00 price target on Crown Castle in a research report on Thursday, October 17th. Barclays lifted their price objective on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. UBS Group lifted their price objective on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price target on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Crown Castle has a consensus rating of “Hold” and a consensus price target of $116.53.

Crown Castle Stock Performance

Crown Castle stock opened at $100.60 on Wednesday. The stock’s 50 day moving average price is $107.87 and its 200 day moving average price is $107.18. The firm has a market capitalization of $43.72 billion, a PE ratio of 35.67 and a beta of 0.86. 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 one year low of $92.48 and a one year high of $120.92.

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 the consensus estimate of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates 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 was down .9% on a year-over-year basis. During the same period last year, the firm posted $1.77 earnings per share. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.22%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 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.