D.A. Davidson & CO. Has $2.43 Million Holdings in Crown Castle Inc. (NYSE:CCI)

D.A. Davidson & CO. grew its holdings in Crown Castle Inc. (NYSE:CCI) by 4.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,478 shares of the real estate investment trust’s stock after acquiring an additional 960 shares during the period. D.A. Davidson & CO.’s holdings in Crown Castle were worth $2,429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Catalyst Capital Advisors LLC acquired a new stake in Crown Castle during the 3rd quarter valued at $25,000. Rosenberg Matthew Hamilton boosted its holdings 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 buying an additional 136 shares during the period. Asset Dedication LLC grew its stake in Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares during the last quarter. New Millennium Group LLC bought a new position in Crown Castle in the 2nd quarter valued at about $34,000. Finally, ORG Partners LLC acquired a new stake in Crown Castle during the second quarter worth approximately $34,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Performance

Crown Castle stock opened at $106.25 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market cap of $46.18 billion, a PE ratio of 37.68 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. The business’s 50-day moving average price is $109.48 and its two-hundred day moving average price is $107.02.

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 analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company earned $1.77 earnings per share. Crown Castle’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.89%. Crown Castle’s dividend payout ratio is currently 221.99%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of recent research reports. The Goldman Sachs Group increased 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. Barclays lifted their target price on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Bank of America upped their price target on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Citigroup set a $128.00 price objective on shares of Crown Castle in a research note on Thursday, October 17th. Finally, Royal Bank of Canada raised their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $116.87.

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.