Ferguson Wellman Capital Management Inc. grew its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 101.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 421,652 shares of the real estate investment trust's stock after acquiring an additional 211,933 shares during the quarter. Ferguson Wellman Capital Management Inc. owned 0.10% of Crown Castle worth $50,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle during the third quarter valued at approximately $25,000. EntryPoint Capital LLC bought a new stake in Crown Castle in the first quarter worth $27,000. Asset Dedication LLC boosted its stake in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust's stock worth $27,000 after buying an additional 167 shares during the period. Beacon Capital Management LLC increased its position in Crown Castle by 163.9% during the first 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 raised its stake 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 acquiring an additional 136 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently commented on CCI. JPMorgan Chase & Co. lifted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. UBS Group upped their target price on Crown Castle from $103.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. The Goldman Sachs Group raised their price target on Crown Castle from $105.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their price objective on Crown Castle from $103.00 to $105.00 and gave the company a "hold" rating in a research report on Tuesday, July 23rd. Finally, Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $116.87.
Check Out Our Latest Analysis on Crown Castle
Crown Castle Stock Up 0.1 %
NYSE:CCI traded up $0.14 during trading hours on Thursday, reaching $102.90. The company's stock had a trading volume of 2,404,194 shares, compared to its average volume of 2,605,279. 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 $44.72 billion, a P/E ratio of 36.31 and a beta of 0.86. The stock has a 50 day moving average price of $112.51 and a two-hundred day moving average price of $106.41. 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 earnings per share for the quarter, missing analysts' consensus estimates of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter last year, the company earned $1.77 earnings per share. The company's revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts predict that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.
Crown Castle Announces Dividend
The company also recently announced 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. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 6.08%. Crown Castle's payout ratio is 221.99%.
About Crown Castle
(
Free Report)
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.
Featured Stories
Before you consider Crown Castle, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Crown Castle wasn't on the list.
While Crown Castle currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
