Crown Castle Inc. (NYSE:CCI) Shares Purchased by Adelante Capital Management LLC

Adelante Capital Management LLC lifted its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 207.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,259 shares of the real estate investment trust's stock after purchasing an additional 29,883 shares during the quarter. Adelante Capital Management LLC's holdings in Crown Castle were worth $5,250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc raised its position in Crown Castle by 1.1% during the second 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 purchasing an additional 67,072 shares during the period. Fisher Asset Management LLC boosted its stake in Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust's stock worth $603,592,000 after buying an additional 203,442 shares during the period. Charles Schwab Investment Management Inc. increased its position in Crown Castle by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,002,934 shares of the real estate investment trust's stock valued at $593,498,000 after acquiring an additional 237,730 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Crown Castle by 10.7% in the second 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Crown Castle by 433.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust's stock worth $470,838,000 after purchasing an additional 3,225,460 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCI has been the subject of a number of research analyst reports. Citigroup set a $128.00 price target on Crown Castle in a research note on Thursday, October 17th. Bank of America raised their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 13th. TD Cowen decreased their target price on Crown Castle from $127.00 to $123.00 and set a "buy" rating for the company in a research report on Thursday, October 17th. The Goldman Sachs Group increased their price target on Crown Castle from $105.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group lifted their price objective on Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Crown Castle currently has an average rating of "Hold" and an average price target of $116.87.

Crown Castle Trading Down 0.4 %

CCI stock traded down $0.45 during mid-day trading on Friday, hitting $106.25. 1,838,391 shares of the company were exchanged, compared to its average volume of 2,350,684. 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 business has a fifty day simple moving average of $109.48 and a 200-day simple moving average of $107.07. 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 $46.18 billion, a P/E ratio of 37.68 and a beta of 0.86.

Crown Castle (NYSE:CCI - Get Free Report) last posted its 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 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 analyst estimates of $1.64 billion. During the same period in the previous year, the company 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 6.66 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 paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date is Friday, December 13th. Crown Castle's dividend payout ratio is currently 221.99%.

Crown Castle Company 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.