Crown Castle Inc. (NYSE:CCI) Stake Boosted by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 7.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 129,122 shares of the real estate investment trust's stock after purchasing an additional 8,498 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Crown Castle were worth $15,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MML Investors Services LLC lifted its position in Crown Castle by 4.2% during the third quarter. MML Investors Services LLC now owns 163,723 shares of the real estate investment trust's stock worth $19,422,000 after buying an additional 6,641 shares during the period. Zacks Investment Management boosted its position in shares of Crown Castle by 10.3% in the third quarter. Zacks Investment Management now owns 314,348 shares of the real estate investment trust's stock worth $37,291,000 after acquiring an additional 29,441 shares during the last quarter. National Bank of Canada FI grew its holdings in Crown Castle by 4.6% in the third quarter. National Bank of Canada FI now owns 4,220,799 shares of the real estate investment trust's stock valued at $500,713,000 after purchasing an additional 185,238 shares during the period. Brookfield Corp ON increased its position in Crown Castle by 13.3% during the third quarter. Brookfield Corp ON now owns 1,750,649 shares of the real estate investment trust's stock worth $207,679,000 after purchasing an additional 205,985 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust's stock worth $2,079,417,000 after purchasing an additional 3,371,186 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CCI. Barclays boosted their price objective on shares of Crown Castle from $116.00 to $117.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Bank of America upped their price target on Crown Castle from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Royal Bank of Canada raised their price objective on Crown Castle from $104.00 to $109.00 and gave the stock a "sector perform" rating in a report on Monday, October 28th. 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 report on Monday, September 23rd. Finally, TD Cowen cut their price target on shares of Crown Castle from $127.00 to $123.00 and set a "buy" rating on the stock in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Crown Castle currently has an average rating of "Hold" and a consensus price target of $116.53.

Crown Castle Stock Down 1.4 %

CCI traded down $1.39 during trading on Wednesday, hitting $99.17. The company had a trading volume of 2,749,759 shares, compared to its average volume of 2,618,817. The company has a market cap of $43.10 billion, a PE ratio of 35.36 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 1-year low of $92.48 and a 1-year high of $120.92. The business has a 50-day moving average of $107.50 and a 200-day moving average of $107.20.

Crown Castle (NYSE:CCI - Get Free Report) last issued 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). The company had revenue of $1.65 billion for 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 business's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $1.77 EPS. As a group, analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently declared 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. This represents a $6.26 annualized dividend and a dividend yield of 6.31%. The ex-dividend date is Friday, December 13th. Crown Castle's dividend payout ratio is currently 221.99%.

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.