Investors Research Corp Purchases 154 Shares of Crown Castle Inc. (NYSE:CCI)

Investors Research Corp raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 57.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 423 shares of the real estate investment trust’s stock after acquiring an additional 154 shares during the period. Investors Research Corp’s holdings in Crown Castle were worth $50,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Catalyst Capital Advisors LLC bought a new position in shares of Crown Castle in the third quarter worth approximately $25,000. EntryPoint Capital LLC bought a new stake in shares of Crown Castle in the first quarter worth about $27,000. Rosenberg Matthew Hamilton increased its holdings in Crown Castle by 107.9% during the 3rd 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 during the period. Asset Dedication LLC lifted its holdings in Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares during the period. Finally, Beacon Capital Management LLC grew its stake 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 period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of CCI opened at $104.61 on Friday. The company has a 50 day moving average price of $110.87 and a 200-day moving average price of $106.69. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $45.47 billion, a PE ratio of 37.10 and a beta of 0.86. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 EPS. Equities analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.98%. Crown Castle’s payout ratio is 221.99%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CCI. Wells Fargo & Company raised their price objective on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Jefferies Financial Group raised their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Citigroup set a $128.00 target price on shares of Crown Castle in a report on Thursday, October 17th. Finally, UBS Group increased 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $116.87.

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.