Citizens Business Bank Takes Position in Crown Castle Inc. (NYSE:CCI)

Citizens Business Bank purchased a new position in Crown Castle Inc. (NYSE:CCI - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,230 shares of the real estate investment trust's stock, valued at approximately $620,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCI. Van ECK Associates Corp raised its position in Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust's stock valued at $17,476,000 after buying an additional 31,319 shares during the period. Fisher Asset Management LLC lifted its position in shares of Crown Castle by 4.2% in 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 purchasing an additional 203,442 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of Crown Castle by 3,111.6% during the third quarter. Quest Partners LLC now owns 13,328 shares of the real estate investment trust's stock worth $1,581,000 after purchasing an additional 12,913 shares during the period. Thrivent Financial for Lutherans grew its position in Crown Castle by 7.9% during the third quarter. Thrivent Financial for Lutherans now owns 1,059,300 shares of the real estate investment trust's stock valued at $125,665,000 after purchasing an additional 77,135 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Crown Castle by 2,706.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,563 shares of the real estate investment trust's stock valued at $12,523,000 after buying an additional 101,801 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Stock Performance

CCI stock traded down $1.39 on Wednesday, reaching $99.17. 2,749,759 shares of the company were exchanged, compared to its average volume of 2,618,817. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 12 month low of $92.48 and a 12 month high of $120.92. The stock's fifty day moving average price is $107.50 and its 200 day moving average price is $107.20. The firm has a market capitalization of $43.10 billion, a PE ratio of 35.36 and a beta of 0.86.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share 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 business posted $1.77 EPS. Crown Castle's revenue for the quarter was down .9% compared to the same quarter last year. On average, research analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.31%. The ex-dividend date is Friday, December 13th. Crown Castle's dividend payout ratio is 221.99%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CCI. Wells Fargo & Company downgraded shares of Crown Castle from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $105.00 to $100.00 in a research note on Tuesday. TD Cowen cut their price target on Crown Castle from $127.00 to $123.00 and set a "buy" rating for the company in a research note on Thursday, October 17th. UBS Group boosted their price target on Crown Castle from $103.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a "sector perform" rating in a research report on Monday, October 28th. Finally, Citigroup set a $128.00 target price on shares of Crown Castle in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $116.53.

Crown Castle 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.