Crown Castle Inc. (NYSE:CCI) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 72.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,872 shares of the real estate investment trust’s stock after purchasing an additional 4,979 shares during the period. Quantinno Capital Management LP’s holdings in Crown Castle were worth $1,408,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Catalyst Capital Advisors LLC acquired a new position in Crown Castle during the third quarter worth $25,000. Rosenberg Matthew Hamilton lifted its position in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares during the period. Asset Dedication LLC raised its holdings in shares of Crown Castle by 159.0% in 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 period. New Millennium Group LLC purchased a new position in shares of Crown Castle in the 2nd quarter worth about $34,000. Finally, ORG Partners LLC purchased a new position in shares of Crown Castle in the 2nd quarter worth about $34,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CCI shares. UBS Group raised their target price on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Jefferies Financial Group lifted their target price on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada raised their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. TD Cowen cut their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, Wells Fargo & Company downgraded Crown Castle from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $105.00 to $100.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $116.53.

Crown Castle Stock Down 0.4 %

NYSE:CCI opened at $98.79 on Friday. The stock’s fifty day moving average price is $107.17 and its two-hundred day moving average price is $107.14. 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 company has a market cap of $42.93 billion, a price-to-earnings ratio of 35.17 and a beta of 0.86.

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 analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the company earned $1.77 EPS. On average, analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date of this dividend is Friday, December 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.