First American Bank Buys 3,755 Shares of Crown Castle Inc. (NYSE:CCI)

First American Bank raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 6.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 60,763 shares of the real estate investment trust’s stock after acquiring an additional 3,755 shares during the period. First American Bank’s holdings in Crown Castle were worth $7,208,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of Crown Castle during the 1st quarter worth $27,000. Asset Dedication LLC raised its stake in shares of Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 167 shares during the period. Beacon Capital Management LLC raised its stake in shares of Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 177 shares during the period. ORG Partners LLC bought a new stake in shares of Crown Castle during the 2nd quarter worth $34,000. Finally, New Millennium Group LLC bought a new stake in shares of Crown Castle during the 2nd quarter worth $34,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Down 2.3 %

CCI stock opened at $108.91 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market capitalization of $47.33 billion, a PE ratio of 38.62 and a beta of 0.85. Crown Castle Inc. has a twelve month low of $87.38 and a twelve month high of $120.92. The stock has a 50-day simple moving average of $114.05 and a two-hundred day simple moving average of $105.48.

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

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s payout ratio is 221.99%.

Analysts Set New Price Targets

CCI has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. TD Cowen decreased their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Bank of America lifted their price objective on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Finally, 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 report on Thursday, July 25th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $116.47.

About Crown Castle

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.