Russell Investments Group Ltd. lifted its position in Crown Castle Inc. (NYSE:CCI – Free Report) by 9.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 358,047 shares of the real estate investment trust’s stock after buying an additional 32,192 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Crown Castle worth $40,802,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Crown Castle in the 4th quarter worth approximately $642,077,000. Moneta Group Investment Advisors LLC grew its position in Crown Castle by 90,084.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,487,430 shares of the real estate investment trust’s stock worth $473,035,000 after buying an additional 3,483,563 shares during the last quarter. Providence Capital Advisors LLC increased its holdings in shares of Crown Castle by 13,535.7% in the first quarter. Providence Capital Advisors LLC now owns 2,810,309 shares of the real estate investment trust’s stock valued at $20,997,000 after buying an additional 2,789,699 shares in the last quarter. FIL Ltd lifted its position in shares of Crown Castle by 5,762.6% during the 1st quarter. FIL Ltd now owns 1,839,579 shares of the real estate investment trust’s stock valued at $246,209,000 after acquiring an additional 1,808,201 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Crown Castle by 12.4% during the 1st quarter. Bank of America Corp DE now owns 16,066,495 shares of the real estate investment trust’s stock worth $2,150,340,000 after acquiring an additional 1,776,989 shares in the last quarter. Institutional investors and hedge funds own 90.27% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the company. Raymond James cut their target price on Crown Castle from $126.00 to $104.00 and set an “outperform” rating on the stock in a research report on Friday, October 20th. Royal Bank of Canada cut shares of Crown Castle from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $125.00 to $100.00 in a report on Monday, October 16th. Morgan Stanley cut their price target on shares of Crown Castle from $151.00 to $113.00 and set an “overweight” rating on the stock in a report on Monday, October 16th. Argus began coverage on shares of Crown Castle in a research note on Wednesday, August 2nd. They issued a “buy” rating and a $140.00 price objective for the company. Finally, Scotiabank initiated coverage on shares of Crown Castle in a research note on Friday, October 13th. They set a “sector perform” rating and a $110.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $125.56.
Crown Castle Trading Down 0.2 %
NYSE:CCI opened at $103.92 on Friday. The stock’s 50 day moving average price is $93.98 and its 200 day moving average price is $104.32. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $153.98. The company has a market capitalization of $45.07 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.56 and a beta of 0.66. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.44 and a current ratio of 0.44.
Crown Castle (NYSE:CCI – Get Free Report) last issued its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($1.08). Crown Castle had a return on equity of 21.85% and a net margin of 21.93%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the company posted $1.85 earnings per share. On average, research analysts forecast that Crown Castle Inc. will post 7.14 EPS for the current fiscal year.
Crown Castle Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date is Thursday, December 14th. Crown Castle’s dividend payout ratio is 174.86%.
Crown Castle Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 85,000 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.
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