Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 2,706.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,563 shares of the real estate investment trust's stock after buying an additional 101,801 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Crown Castle were worth $12,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CCI. Pinnacle Bancorp Inc. boosted its stake in Crown Castle by 13.0% during the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust's stock worth $93,000 after acquiring an additional 90 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Crown Castle by 2.4% during the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust's stock valued at $376,000 after acquiring an additional 91 shares in the last quarter. Prosperity Consulting Group LLC increased its stake in Crown Castle by 4.4% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust's stock valued at $221,000 after purchasing an additional 95 shares in the last quarter. True North Advisors LLC raised its holdings in Crown Castle by 4.2% in the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust's stock worth $278,000 after buying an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its stake in shares of Crown Castle by 0.5% in the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust's stock worth $1,899,000 after buying an additional 100 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 0.9 %

Shares of NYSE:CCI traded up $0.94 during trading on Friday, reaching $105.44. 1,541,502 shares of the company were exchanged, compared to its average volume of 2,606,443. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $45.82 billion, a PE ratio of 37.47 and a beta of 0.86. The business's fifty day simple moving average is $110.87 and its 200-day simple moving average is $106.69. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results 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 during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. Crown Castle's quarterly revenue 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 year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date is Friday, December 13th. Crown Castle's payout ratio is currently 221.99%.

Analysts Set New Price Targets

CCI has been the topic of several recent analyst reports. TD Cowen dropped their price objective on Crown Castle from $127.00 to $123.00 and set a "buy" rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price target on shares of Crown Castle from $104.00 to $109.00 and gave the stock a "sector perform" rating in a research note on Monday, October 28th. Wells Fargo & Company increased 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. The Goldman Sachs Group lifted their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. Finally, Citigroup set a $128.00 price target on Crown Castle in a research note on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Crown Castle has an average rating of "Hold" and an average target price of $116.87.

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.