Barclays PLC Acquires 348,296 Shares of Crown Castle Inc. (NYSE:CCI)

Barclays PLC boosted its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 7.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,174,920 shares of the real estate investment trust's stock after purchasing an additional 348,296 shares during the quarter. Barclays PLC owned about 1.19% of Crown Castle worth $613,900,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CCI. State Street Corp boosted its holdings in shares of Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock valued at $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Wellington Management Group LLP boosted its stake in Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust's stock valued at $2,079,417,000 after buying an additional 3,371,186 shares in the last quarter. Legal & General Group Plc grew its position in Crown Castle by 1.1% in 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 acquiring an additional 67,072 shares during the last quarter. Fisher Asset Management LLC raised 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 acquiring an additional 203,442 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Crown Castle by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,002,934 shares of the real estate investment trust's stock worth $593,498,000 after acquiring an additional 237,730 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

CCI has been the topic of several recent research reports. Jefferies Financial Group raised 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. Royal Bank of Canada boosted their price target on Crown Castle from $104.00 to $109.00 and gave the stock a "sector perform" rating in a report on Monday, October 28th. Citigroup set a $128.00 price objective on shares of Crown Castle in a report on Thursday, October 17th. Barclays boosted their target price on shares of Crown Castle from $116.00 to $117.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group raised their price target on shares of Crown Castle from $105.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $116.87.

Crown Castle Trading Up 0.1 %

CCI stock traded up $0.15 during mid-day trading on Monday, reaching $102.00. The company's stock had a trading volume of 4,256,851 shares, compared to its average volume of 2,615,673. Crown Castle Inc. has a 12 month low of $92.48 and a 12 month high of $120.92. 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's 50 day moving average price is $108.21 and its 200 day moving average price is $107.16. The company has a market cap of $44.33 billion, a price-to-earnings ratio of 36.12 and a beta of 0.86.

Crown Castle (NYSE:CCI - Get Free Report) last released 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). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business's revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.77 EPS. On average, equities research analysts predict that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The company 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 $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.14%. Crown Castle's dividend payout ratio is presently 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.