Crestwood Advisors Group LLC Purchases 5,554 Shares of Crown Castle Inc. (NYSE:CCI)

Crestwood Advisors Group LLC grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,511 shares of the real estate investment trust’s stock after purchasing an additional 5,554 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Crown Castle were worth $28,531,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Crown Castle by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock worth $5,990,991,000 after purchasing an additional 673,243 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Crown Castle by 1.1% in the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after buying an additional 67,072 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Crown Castle by 10.7% in the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after acquiring an additional 391,127 shares during the period. ClearBridge Investments Ltd grew its stake in Crown Castle by 19.4% during the first quarter. ClearBridge Investments Ltd now owns 2,632,855 shares of the real estate investment trust’s stock valued at $278,635,000 after acquiring an additional 428,597 shares in the last quarter. Finally, Cooke & Bieler LP increased its holdings in Crown Castle by 95.8% during the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock worth $251,962,000 after acquiring an additional 1,261,536 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of several analyst reports. TD Cowen cut their price target on shares of 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 company a “neutral” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group upped their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their price target on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada boosted their price objective on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average target price of $116.87.

Crown Castle Trading Down 0.3 %

CCI stock traded down $0.33 during midday trading on Tuesday, hitting $108.03. The company had a trading volume of 56,003 shares, compared to its average volume of 2,605,358. The stock has a market cap of $46.95 billion, a price-to-earnings ratio of 38.43 and a beta of 0.86. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock’s 50 day moving average price is $113.69 and its 200 day moving average price is $106.01.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 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 the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.77 earnings per share. As a group, equities research analysts expect that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.79%. Crown Castle’s payout ratio is presently 221.99%.

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.