B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 68,487 shares of the real estate investment trust's stock, valued at approximately $8,125,000.
Several other hedge funds have also recently added to or reduced their stakes in CCI. Legal & General Group Plc raised its position in shares of Crown Castle by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust's stock worth $603,518,000 after acquiring an additional 67,072 shares in the last quarter. National Bank of Canada FI raised its position in shares of Crown Castle by 10.7% in the 2nd quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust's stock worth $387,333,000 after acquiring an additional 391,127 shares in the last quarter. Cooke & Bieler LP raised its position in shares of Crown Castle by 95.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust's stock worth $251,962,000 after acquiring an additional 1,261,536 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Crown Castle by 4,097.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust's stock valued at $246,617,000 after buying an additional 2,464,094 shares in the last quarter. Finally, M&G PLC increased its position in Crown Castle by 1.0% during the 3rd quarter. M&G PLC now owns 2,180,221 shares of the real estate investment trust's stock valued at $259,446,000 after buying an additional 21,843 shares in the last quarter. Institutional investors own 90.77% of the company's stock.
Crown Castle Stock Performance
Shares of NYSE CCI traded down $0.09 during mid-day trading on Wednesday, hitting $104.38. The stock had a trading volume of 6,769,095 shares, compared to its average volume of 2,616,288. 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 company has a 50 day moving average of $111.16 and a two-hundred day moving average of $106.70. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. The firm has a market cap of $45.36 billion, a PE ratio of 37.01 and a beta of 0.86.
Crown Castle (NYSE:CCI - Get Free Report) last released 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 net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the company earned $1.77 earnings per share. Crown Castle's revenue was down .9% on a year-over-year basis. Research analysts predict that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.
Crown Castle Dividend Announcement
The firm also recently declared 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. This represents a $6.26 annualized dividend and a yield of 6.00%. The ex-dividend date is Friday, December 13th. Crown Castle's payout ratio is 221.99%.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Crown Castle from $104.00 to $109.00 and gave the company a "sector perform" rating in a research report on Monday, October 28th. Barclays increased their target price on Crown Castle from $116.00 to $117.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Jefferies Financial Group increased their target price on Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. UBS Group increased their target price on Crown Castle from $103.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their target price on Crown Castle from $115.00 to $124.00 and gave the company a "neutral" rating in a research note on Monday, September 23rd. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Crown Castle presently has an average rating of "Hold" and a consensus target price of $116.87.
Check Out Our Latest Stock Analysis on CCI
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.
See Also
Before you consider Crown Castle, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Crown Castle wasn't on the list.
While Crown Castle currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
