Angeles Wealth Management LLC Buys 324 Shares of Crown Castle Inc. (NYSE:CCI)

Angeles Wealth Management LLC grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 14.9% in the third quarter, HoldingsChannel reports. The firm owned 2,501 shares of the real estate investment trust’s stock after buying an additional 324 shares during the quarter. Angeles Wealth Management LLC’s holdings in Crown Castle were worth $297,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CCI. EntryPoint Capital LLC purchased a new position in Crown Castle during the 1st quarter valued at approximately $27,000. Asset Dedication LLC grew its holdings in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares in the last quarter. Beacon Capital Management LLC increased its position in Crown Castle by 163.9% in the first 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 last quarter. Rosenberg Matthew Hamilton raised its stake in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Finally, ORG Partners LLC bought a new position in Crown Castle during the second quarter valued at $34,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CCI has been the topic of several recent research reports. Barclays upped their target price on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday. TD Cowen decreased their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft increased their price target on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Finally, UBS Group lifted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Twelve 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 presently has a consensus rating of “Hold” and a consensus target price of $116.87.

Crown Castle Stock Down 0.8 %

Shares of CCI opened at $106.58 on Monday. The firm has a fifty day moving average price of $113.78 and a 200-day moving average price of $105.91. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. The firm has a market capitalization of $46.32 billion, a P/E ratio of 37.79 and a beta of 0.86. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month high of $120.92.

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

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.87%. Crown Castle’s payout ratio is currently 221.99%.

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.