Crown Castle Inc. (NYSE:CCI) Shares Purchased by M&G Plc

M&G PLC raised its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,180,221 shares of the real estate investment trust's stock after acquiring an additional 21,843 shares during the period. Crown Castle makes up 1.3% of M&G PLC's holdings, making the stock its 12th biggest holding. M&G PLC owned approximately 0.50% of Crown Castle worth $259,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. boosted its holdings in Crown Castle by 4,097.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust's stock valued at $246,617,000 after acquiring an additional 2,464,094 shares during the period. Bank of Montreal Can boosted its stake in shares of Crown Castle by 191.7% in the second quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust's stock valued at $195,183,000 after purchasing an additional 1,335,644 shares during the period. Cooke & Bieler LP grew its holdings in shares of Crown Castle by 95.8% in the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust's stock valued at $251,962,000 after purchasing an additional 1,261,536 shares in the last quarter. Capital International Investors increased its stake in Crown Castle by 68,262.1% during the 1st quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust's stock worth $131,239,000 after buying an additional 1,238,274 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Crown Castle by 13,271.6% during the 3rd quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust's stock worth $115,449,000 after buying an additional 965,907 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of CCI traded up $0.74 during midday trading on Thursday, reaching $104.21. 2,634,780 shares of the stock were exchanged, compared to its average volume of 2,620,065. The company has a market capitalization of $45.29 billion, a price-to-earnings ratio of 36.95 and a beta of 0.86. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. The business's 50-day moving average price is $113.39 and its 200 day moving average price is $106.09.

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). The firm had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.77 EPS. On average, sell-side analysts expect that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CCI shares. The Goldman Sachs Group increased their price objective on Crown Castle from $105.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. Bank of America increased their price target on Crown Castle from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, August 13th. BMO Capital Markets boosted their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a "market perform" rating in a research report on Thursday, July 18th. Royal Bank of Canada raised their target price on shares of Crown Castle from $104.00 to $109.00 and gave the company a "sector perform" rating in a report on Monday, October 28th. Finally, Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.