Bridgefront Capital LLC Makes New Investment in Crown Castle Inc. (NYSE:CCI)

Bridgefront Capital LLC purchased a new position in Crown Castle Inc. (NYSE:CCI – Get Rating) in the third quarter, HoldingsChannel reports. The firm purchased 1,714 shares of the real estate investment trust’s stock, valued at approximately $248,000.

A number of other institutional investors also recently made changes to their positions in CCI. Cohen & Steers Inc. lifted its stake in Crown Castle by 64.2% during the third quarter. Cohen & Steers Inc. now owns 8,335,213 shares of the real estate investment trust’s stock valued at $1,204,827,000 after purchasing an additional 3,258,264 shares during the last quarter. FMR LLC lifted its stake in Crown Castle by 23.7% during the second quarter. FMR LLC now owns 12,273,955 shares of the real estate investment trust’s stock valued at $2,066,688,000 after purchasing an additional 2,354,559 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Crown Castle by 26.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,577,218 shares of the real estate investment trust’s stock valued at $602,332,000 after purchasing an additional 752,420 shares during the last quarter. Great West Life Assurance Co. Can acquired a new stake in Crown Castle during the third quarter valued at approximately $81,419,000. Finally, Deutsche Bank AG lifted its stake in Crown Castle by 5.7% during the second quarter. Deutsche Bank AG now owns 10,309,736 shares of the real estate investment trust’s stock valued at $1,735,953,000 after purchasing an additional 560,147 shares during the last quarter. 90.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Raymond James increased their target price on shares of Crown Castle from $153.00 to $154.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Barclays upped their price target on shares of Crown Castle from $152.00 to $153.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Crown Castle from $137.00 to $142.00 in a research report on Friday, December 16th. Cowen upped their price target on shares of Crown Castle from $149.00 to $152.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. Finally, Truist Financial reduced their price target on shares of Crown Castle from $230.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, January 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $159.36.

Crown Castle Stock Down 0.1 %

Crown Castle stock opened at $132.52 on Friday. The firm has a market cap of $57.44 billion, a PE ratio of 34.33 and a beta of 0.65. The company has a debt-to-equity ratio of 2.81, a quick ratio of 0.45 and a current ratio of 0.45. The firm’s 50 day moving average price is $140.35 and its two-hundred day moving average price is $142.05. Crown Castle Inc. has a twelve month low of $121.71 and a twelve month high of $199.97.

Crown Castle (NYSE:CCI – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The real estate investment trust reported $0.95 EPS for the quarter, missing the consensus estimate of $1.78 by ($0.83). Crown Castle had a return on equity of 21.58% and a net margin of 23.96%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the company earned $1.77 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, research analysts predict that Crown Castle Inc. will post 7.26 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a dividend of $1.565 per share. The ex-dividend date is Tuesday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 4.72%. Crown Castle’s dividend payout ratio (DPR) is 162.18%.

Crown Castle Profile

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Crown Castle, Inc is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the Towers and Fiber segments. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.