Core Wealth Partners LLC Makes New Investment in Crown Castle Inc. (NYSE:CCI)

Core Wealth Partners LLC bought a new stake in Crown Castle Inc. (NYSE:CCI) during the third quarter, Holdings Channel.com reports. The firm bought 2,029 shares of the real estate investment trust’s stock, valued at approximately $241,000.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Crown Castle by 1.2% during the first 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 boosted its holdings in Crown Castle by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after acquiring an additional 67,072 shares during the period. National Bank of Canada FI grew its position in Crown Castle by 10.7% in the 2nd 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 in the last quarter. ClearBridge Investments Ltd increased 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 worth $278,635,000 after purchasing an additional 428,597 shares during the period. Finally, Cooke & Bieler LP lifted its position in shares of Crown Castle by 95.8% during the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock worth $251,962,000 after purchasing an additional 1,261,536 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. BMO Capital Markets lifted their target price on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. TD Cowen cut their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $116.87.

Crown Castle Trading Down 0.6 %

Shares of Crown Castle stock opened at $105.25 on Monday. The company has a fifty day simple moving average of $113.12 and a 200-day simple moving average of $106.30. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month 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 has a market cap of $45.74 billion, a price-to-earnings ratio of 37.54 and a beta of 0.86.

Crown Castle (NYSE:CCI) last issued 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm 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 business posted $1.77 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is 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.