Crown Castle Inc. (NYSE:CCI) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 25.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,869 shares of the real estate investment trust's stock after buying an additional 15,437 shares during the period. Public Sector Pension Investment Board's holdings in Crown Castle were worth $9,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle during the 3rd quarter worth $25,000. Rosenberg Matthew Hamilton grew its position in shares of Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Asset Dedication LLC raised its holdings in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 167 shares during the last quarter. New Millennium Group LLC acquired a new position in Crown Castle in the 2nd quarter valued at about $34,000. Finally, ORG Partners LLC purchased a new position in shares of Crown Castle during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Stock Performance

Crown Castle stock traded down $0.45 during mid-day trading on Friday, reaching $106.25. The company's stock had a trading volume of 1,838,391 shares, compared to its average volume of 2,608,444. The firm's fifty day moving average price is $109.48 and its two-hundred day moving average price is $107.02. 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 market capitalization of $46.18 billion, a P/E ratio of 37.68 and a beta of 0.86. 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 quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS 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 return on equity of 20.98% and a net margin of 18.59%. The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $1.77 earnings per share. Sell-side analysts predict that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.89%. Crown Castle's dividend payout ratio (DPR) is presently 221.99%.

Analysts Set New Price Targets

Several analysts have recently issued reports on CCI shares. Royal Bank of Canada boosted 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 note on Monday, October 28th. Citigroup set a $128.00 price target on shares of Crown Castle in a research report on Thursday, October 17th. The Goldman Sachs Group raised their target price 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. JPMorgan Chase & Co. increased their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the stock a "neutral" rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company raised 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 note on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $116.87.

About Crown Castle

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.