Kennebec Savings Bank bought a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,339 shares of the real estate investment trust's stock, valued at approximately $633,000.
Several other large investors have also recently bought and sold shares of the stock. Quent Capital LLC lifted its holdings in shares of Crown Castle by 10.9% during the 1st quarter. Quent Capital LLC now owns 2,346 shares of the real estate investment trust's stock worth $248,000 after acquiring an additional 231 shares during the period. Montag A & Associates Inc. increased its position in Crown Castle by 55.2% in the first quarter. Montag A & Associates Inc. now owns 1,125 shares of the real estate investment trust's stock worth $119,000 after purchasing an additional 400 shares during the period. Meeder Advisory Services Inc. grew its position in shares of Crown Castle by 9.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,835 shares of the real estate investment trust's stock worth $512,000 after buying an additional 433 shares during the period. QRG Capital Management Inc. grew its holdings in Crown Castle by 57.5% during the 1st quarter. QRG Capital Management Inc. now owns 13,092 shares of the real estate investment trust's stock worth $1,386,000 after acquiring an additional 4,780 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Crown Castle by 64.5% in the first quarter. Russell Investments Group Ltd. now owns 627,544 shares of the real estate investment trust's stock valued at $66,402,000 after purchasing an additional 246,043 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.
Crown Castle Price Performance
Crown Castle stock traded down $0.87 during mid-day trading on Monday, reaching $104.98. The company had a trading volume of 632,428 shares, compared to its average volume of 2,606,299. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The company has a market cap of $45.62 billion, a P/E ratio of 37.54 and a beta of 0.86. 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 $113.12 and a 200 day simple moving average of $106.30.
Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings results 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 net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the business posted $1.77 EPS. Crown Castle's revenue was down .9% on a year-over-year basis. On average, equities research analysts predict that Crown Castle Inc. will post 6.65 earnings per share for the current year.
Crown Castle Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date is Friday, December 13th. Crown Castle's payout ratio is 221.99%.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on CCI shares. JPMorgan Chase & Co. upped their target price on shares of Crown Castle from $115.00 to $124.00 and gave the company a "neutral" rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on Crown Castle from $103.00 to $105.00 and gave the stock a "hold" rating in a research report on Tuesday, July 23rd. Citigroup set a $128.00 target price on shares of Crown Castle in a report on Thursday, October 17th. UBS Group boosted their price target on Crown Castle from $103.00 to $118.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company lifted 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 report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $116.87.
Check Out Our Latest Report on Crown Castle
Crown Castle Company Profile
(
Free Report)
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.
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