1,536 Shares in Crown Castle Inc. (NYSE:CCI) Purchased by Continental Investors Services Inc.

Continental Investors Services Inc. purchased a new position in Crown Castle Inc. (NYSE:CCI – Get Rating) during the third quarter, HoldingsChannel reports. The firm purchased 1,536 shares of the real estate investment trust’s stock, valued at approximately $263,000.

A number of other hedge funds also recently bought and sold shares of CCI. Cohen & Steers Inc. lifted its stake in Crown Castle by 64.2% during the 3rd 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 acquiring an additional 3,258,264 shares during the period. FMR LLC lifted its stake in Crown Castle by 23.7% during the 2nd quarter. FMR LLC now owns 12,273,955 shares of the real estate investment trust’s stock valued at $2,066,688,000 after acquiring an additional 2,354,559 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Crown Castle by 26.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,577,218 shares of the real estate investment trust’s stock worth $602,332,000 after purchasing an additional 752,420 shares during the period. Great West Life Assurance Co. Can bought a new position in shares of Crown Castle in the 3rd quarter worth approximately $81,419,000. Finally, BlackRock Inc. lifted its stake in shares of Crown Castle by 1.3% in the 3rd quarter. BlackRock Inc. now owns 33,676,811 shares of the real estate investment trust’s stock worth $4,867,983,000 after purchasing an additional 445,642 shares during the period. Institutional investors own 90.27% of the company’s stock.

Crown Castle Trading Down 1.7 %

Shares of CCI opened at $130.26 on Friday. 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 Inc. has a 1 year low of $121.71 and a 1 year high of $199.97. The company has a 50 day simple moving average of $140.04 and a two-hundred day simple moving average of $141.55. The firm has a market cap of $56.46 billion, a P/E ratio of 33.75 and a beta of 0.65.

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

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date is Tuesday, March 14th. Crown Castle’s dividend payout ratio (DPR) is currently 162.18%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial lowered their price objective on shares of Crown Castle from $230.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, January 13th. Royal Bank of Canada increased their price objective on shares of Crown Castle from $150.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 31st. Cowen increased their price objective on shares of Crown Castle from $149.00 to $152.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. StockNews.com started coverage on shares of Crown Castle in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Raymond James increased their target price on shares of Crown Castle from $153.00 to $154.00 and gave the stock an “outperform” rating in a report on Friday, January 27th. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $159.36.

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.