Natixis Advisors LLC increased its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 15.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 391,514 shares of the real estate investment trust's stock after purchasing an additional 51,006 shares during the period. Natixis Advisors LLC owned 0.09% of Crown Castle worth $46,445,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CCI. Mizuho Securities USA LLC lifted its stake in Crown Castle by 275.2% in the third quarter. Mizuho Securities USA LLC now owns 125,717 shares of the real estate investment trust's stock valued at $14,914,000 after buying an additional 92,211 shares during the last quarter. Mizuho Markets Americas LLC raised its position in Crown Castle by 70.0% during the third quarter. Mizuho Markets Americas LLC now owns 850,000 shares of the real estate investment trust's stock valued at $100,836,000 after buying an additional 350,000 shares during the period. Coastline Trust Co purchased a new position in shares of Crown Castle during the 3rd quarter valued at $107,000. Linscomb Wealth Inc. raised its position in Crown Castle by 0.6% during the third quarter. Linscomb Wealth Inc. now owns 54,605 shares of the real estate investment trust's stock valued at $6,478,000 after acquiring an additional 338 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of Crown Castle by 13.5% in the third quarter. Empowered Funds LLC now owns 12,842 shares of the real estate investment trust's stock valued at $1,523,000 after purchasing an additional 1,531 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.
Crown Castle Stock Performance
CCI stock traded up $0.79 during midday trading on Monday, reaching $104.59. The stock had a trading volume of 1,578,782 shares, compared to its average volume of 2,599,287. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92. 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 stock has a market cap of $45.45 billion, a PE ratio of 36.92 and a beta of 0.86. The firm has a fifty day simple moving average of $112.05 and a two-hundred day simple moving average of $106.61.
Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the firm earned $1.77 EPS. The business's revenue was down .9% on a year-over-year basis. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.
Crown Castle Announces Dividend
The company also recently declared 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 of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.99%. Crown Castle's payout ratio is currently 221.99%.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on CCI shares. Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. Barclays boosted their price objective on Crown Castle from $116.00 to $117.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Crown Castle from $115.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Royal Bank of Canada upped 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. Finally, Jefferies Financial Group upped their price objective on Crown Castle from $123.00 to $127.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $116.87.
Check Out Our Latest Research Report on Crown Castle
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.
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