Crown Castle Inc. (NYSE:CCI) Position Increased by Truvestments Capital LLC

Truvestments Capital LLC grew its position in Crown Castle Inc. (NYSE:CCI) by 5.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 23,366 shares of the real estate investment trust’s stock after purchasing an additional 1,308 shares during the period. Truvestments Capital LLC’s holdings in Crown Castle were worth $2,772,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new position in Crown Castle in the 3rd quarter worth approximately $25,000. EntryPoint Capital LLC bought a new stake in shares of Crown Castle in the 1st quarter valued at approximately $27,000. Rosenberg Matthew Hamilton increased its stake in shares of Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Asset Dedication LLC increased its position in Crown Castle by 159.0% during 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 last quarter. Finally, Beacon Capital Management LLC increased its holdings 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 valued at $30,000 after acquiring an additional 177 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CCI. TD Cowen dropped their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Citigroup set a $128.00 price target on shares of Crown Castle in a research 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 report on Tuesday, August 13th. Wells Fargo & Company boosted their target price on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. 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 report on Thursday, October 17th. 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.com, Crown Castle presently has a consensus rating of “Hold” and an average target price of $116.87.

Crown Castle Trading Up 0.8 %

NYSE CCI opened at $106.33 on Monday. 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 business has a fifty day simple moving average of $110.60 and a 200 day simple moving average of $106.89. Crown Castle Inc. has a 12 month low of $92.48 and a 12 month high of $120.92. The firm has a market capitalization of $46.21 billion, a P/E ratio of 37.39 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released its earnings results 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the company earned $1.77 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. On average, analysts predict that Crown Castle Inc. will post 6.66 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. Stockholders of record on Friday, December 13th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.89%. Crown Castle’s dividend payout ratio (DPR) is currently 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.