Crown Castle Inc. (NYSE:CCI) Shares Bought by MCF Advisors LLC

MCF Advisors LLC raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,200 shares of the real estate investment trust’s stock after acquiring an additional 130 shares during the period. MCF Advisors LLC’s holdings in Crown Castle were worth $736,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CCI. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle during the first quarter worth about $27,000. Asset Dedication LLC boosted its position in Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares during the period. Beacon Capital Management LLC boosted its position in Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 177 shares during the period. ORG Partners LLC acquired a new position in shares of Crown Castle in the second quarter worth $34,000. Finally, New Millennium Group LLC purchased a new stake in shares of Crown Castle during the second quarter worth $34,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of CCI stock traded down $2.54 during mid-day trading on Friday, hitting $108.91. 1,873,838 shares of the stock were exchanged, compared to its average volume of 2,637,974. The stock’s fifty day simple moving average is $114.05 and its two-hundred day simple moving average is $105.41. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.43 and a current ratio of 0.54. Crown Castle Inc. has a 12-month low of $87.38 and a 12-month high of $120.92. The stock has a market capitalization of $47.33 billion, a price-to-earnings ratio of 38.62 and a beta of 0.85.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.77 EPS. On average, analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.75%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CCI. Wells Fargo & Company lifted their target price on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Citigroup set a $128.00 price objective on Crown Castle in a research note on Thursday, October 17th. TD Cowen cut their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. The Goldman Sachs Group lifted their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $116.47.

Crown Castle 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.