Continental Investors Services Inc. Takes Position in Crown Castle Inc. (NYSE:CCI)

Continental Investors Services Inc. bought a new stake in Crown Castle Inc. (NYSE:CCI – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,536 shares of the real estate investment trust’s stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCI. Moors & Cabot Inc. raised its position in Crown Castle by 3.4% in the 1st quarter. Moors & Cabot Inc. now owns 2,734 shares of the real estate investment trust’s stock valued at $505,000 after buying an additional 91 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in Crown Castle by 33.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,954 shares of the real estate investment trust’s stock valued at $730,000 after buying an additional 991 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Crown Castle by 4,497.6% in the 1st quarter. Loomis Sayles & Co. L P now owns 5,701 shares of the real estate investment trust’s stock valued at $1,052,000 after buying an additional 5,577 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Crown Castle by 12.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 4,802 shares of the real estate investment trust’s stock valued at $886,000 after buying an additional 525 shares during the last quarter. Finally, Covestor Ltd raised its position in Crown Castle by 205.9% in the 1st quarter. Covestor Ltd now owns 878 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 591 shares during the last quarter. Institutional investors and hedge funds own 90.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CCI shares. StockNews.com started coverage on Crown Castle in a research report on Thursday. They set a “hold” rating on the stock. Barclays boosted their price target on Crown Castle from $152.00 to $153.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 8th. Cowen boosted their price target on Crown Castle from $149.00 to $152.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th. Truist Financial lowered their price target on Crown Castle from $230.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, January 13th. Finally, Royal Bank of Canada boosted their price target on Crown Castle from $150.00 to $162.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.36.

Crown Castle Stock Performance

CCI opened at $132.52 on Friday. The business has a fifty day simple moving average of $140.35 and a 200 day simple moving average of $142.05. The company has a market capitalization of $57.44 billion, a PE ratio of 34.33 and a beta of 0.65. Crown Castle Inc. has a 1 year low of $121.71 and a 1 year high of $199.97. The company has a debt-to-equity ratio of 2.81, a current ratio of 0.45 and a quick ratio of 0.45.

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

Crown Castle Dividend Announcement

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

About Crown Castle

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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.