Inlet Private Wealth LLC Has $3.70 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Inlet Private Wealth LLC increased its position in shares of Crown Castle Inc. (NYSE:CCI) by 8.3% during the third quarter, HoldingsChannel reports. The fund owned 31,163 shares of the real estate investment trust’s stock after buying an additional 2,400 shares during the quarter. Inlet Private Wealth LLC’s holdings in Crown Castle were worth $3,697,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC raised its holdings in Crown Castle by 13.9% in the 3rd quarter. Global Retirement Partners LLC now owns 6,000 shares of the real estate investment trust’s stock valued at $712,000 after buying an additional 732 shares during the last quarter. Mitchell & Pahl Private Wealth LLC increased its position in Crown Castle by 3.9% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 11,497 shares of the real estate investment trust’s stock valued at $1,364,000 after acquiring an additional 433 shares during the period. Hengehold Capital Management LLC raised its stake in shares of Crown Castle by 3.9% during the third quarter. Hengehold Capital Management LLC now owns 31,374 shares of the real estate investment trust’s stock valued at $3,722,000 after acquiring an additional 1,171 shares during the last quarter. Probity Advisors Inc. lifted its holdings in shares of Crown Castle by 10.5% during the third quarter. Probity Advisors Inc. now owns 4,001 shares of the real estate investment trust’s stock worth $475,000 after purchasing an additional 381 shares during the period. Finally, FLC Capital Advisors bought a new stake in shares of Crown Castle in the third quarter worth $216,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 3.5 %

Shares of CCI stock traded down $4.07 on Thursday, reaching $111.61. 1,547,337 shares of the company were exchanged, compared to its average volume of 2,626,822. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. The company has a 50-day moving average of $113.98 and a 200-day moving average of $105.00. The company has a market cap of $48.50 billion, a price-to-earnings ratio of 40.97 and a beta of 0.85. Crown Castle Inc. has a one year low of $84.72 and a one year high of $120.92.

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). Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the company posted $1.77 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Analysts anticipate that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.61%. Crown Castle’s dividend payout ratio (DPR) is currently 229.30%.

Insiders Place Their Bets

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value of $1,128,784.76. Following the transaction, the chief operating officer now owns 75,127 shares in the company, valued at $7,792,172.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. The Goldman Sachs Group raised their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Royal Bank of Canada lifted their price objective on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. TD Cowen reduced their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group raised their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Barclays upped their price objective on shares of Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $116.00.

Crown Castle Company 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.