Equitable Trust Co. Purchases 6,189 Shares of Crown Castle Inc. (NYSE:CCI)

Equitable Trust Co. increased its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 2.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 283,299 shares of the real estate investment trust's stock after buying an additional 6,189 shares during the quarter. Crown Castle accounts for approximately 2.2% of Equitable Trust Co.'s portfolio, making the stock its 7th largest holding. Equitable Trust Co. owned 0.07% of Crown Castle worth $33,608,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle in the third quarter worth $25,000. EntryPoint Capital LLC bought a new position in Crown Castle during the first quarter valued at approximately $27,000. Asset Dedication LLC lifted its stake in 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 purchasing an additional 167 shares during the last quarter. Beacon Capital Management LLC lifted its stake in shares of Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 177 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its stake in shares of Crown Castle by 107.9% during 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 period. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Up 1.6 %

NYSE:CCI traded up $1.64 during trading hours on Friday, hitting $105.85. The company had a trading volume of 1,606,701 shares, compared to its average volume of 2,615,328. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year 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 company has a 50-day moving average of $113.12 and a 200 day moving average of $106.15. The company has a market cap of $46.00 billion, a P/E ratio of 37.54 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 (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.77 earnings per share. Sell-side analysts expect that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm 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 $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 5.91%. Crown Castle's payout ratio is 221.99%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. Royal Bank of Canada lifted their price target on Crown Castle from $104.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Monday, October 28th. Jefferies Financial Group upped their price objective on Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. BMO Capital Markets raised their price target on shares of Crown Castle from $105.00 to $108.00 and gave the company a "market perform" rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group boosted their price target on Crown Castle from $105.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. Twelve equities research 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, the stock has an average rating of "Hold" and a consensus target price of $116.87.

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.