Wellington Management Group LLP Raises Position in Crown Castle Inc. (NYSE:CCI)

Wellington Management Group LLP lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 23.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,528,597 shares of the real estate investment trust's stock after purchasing an additional 3,371,186 shares during the quarter. Wellington Management Group LLP owned 4.03% of Crown Castle worth $2,079,417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its stake in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock worth $2,476,470,000 after buying an additional 747,390 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Crown Castle by 72.2% during the 3rd quarter. Quantinno Capital Management LP now owns 11,872 shares of the real estate investment trust's stock worth $1,408,000 after acquiring an additional 4,979 shares during the period. Motley Fool Asset Management LLC boosted its position in shares of Crown Castle by 3.6% during the 3rd quarter. Motley Fool Asset Management LLC now owns 17,490 shares of the real estate investment trust's stock worth $2,083,000 after acquiring an additional 607 shares in the last quarter. IHT Wealth Management LLC increased its stake in Crown Castle by 35.2% in the third quarter. IHT Wealth Management LLC now owns 5,016 shares of the real estate investment trust's stock valued at $596,000 after acquiring an additional 1,306 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in Crown Castle by 9.4% during the third quarter. Integrated Wealth Concepts LLC now owns 6,458 shares of the real estate investment trust's stock valued at $766,000 after purchasing an additional 555 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Down 1.4 %

Shares of CCI stock traded down $1.47 on Friday, reaching $101.85. 2,965,187 shares of the company were exchanged, compared to its average volume of 2,355,475. 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 company has a 50-day moving average of $108.50 and a 200-day moving average of $107.06. The company has a market cap of $44.26 billion, a price-to-earnings ratio of 36.10 and a beta of 0.86. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion for 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 for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.77 EPS. Analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

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. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.15%. Crown Castle's dividend payout ratio (DPR) is 221.99%.

Analyst Upgrades and Downgrades

CCI has been the topic of several recent analyst reports. Citigroup set a $128.00 price target on Crown Castle in a research note on Thursday, October 17th. Barclays lifted their target price on Crown Castle from $116.00 to $117.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. Royal Bank of Canada increased their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a "sector perform" rating in a report on Monday, October 28th. Jefferies Financial Group lifted their price target on shares of Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group upped their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, September 26th. Twelve investment 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 a consensus 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.