Crown Castle Inc. (NYSE:CCI) Shares Acquired by abrdn plc

abrdn plc grew its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 12.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,191,514 shares of the real estate investment trust's stock after buying an additional 129,574 shares during the period. abrdn plc owned 0.27% of Crown Castle worth $140,313,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. EntryPoint Capital LLC purchased a new stake in Crown Castle during the 1st quarter worth approximately $27,000. Asset Dedication LLC grew its position in Crown Castle by 159.0% during the 2nd 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 grew its position in Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 177 shares during the last quarter. New Millennium Group LLC purchased a new stake in Crown Castle during the 2nd quarter worth approximately $34,000. Finally, ORG Partners LLC acquired a new stake in Crown Castle during the 2nd quarter valued at approximately $34,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. UBS Group lifted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. TD Cowen decreased their price objective on shares of Crown Castle from $127.00 to $123.00 and set a "buy" rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada lifted their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a "sector perform" rating in a research note on Monday. Barclays lifted their price objective on shares of Crown Castle from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a "neutral" rating in a research note on Monday, September 23rd. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Crown Castle has an average rating of "Hold" and a consensus target price of $116.80.

Crown Castle Trading Down 2.2 %

Shares of CCI traded down $2.44 during mid-day trading on Tuesday, reaching $106.61. The stock had a trading volume of 1,973,870 shares, compared to its average volume of 2,630,439. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. Crown Castle Inc. has a 52-week low of $88.61 and a 52-week high of $120.92. The business's fifty day moving average is $114.04 and its 200 day moving average is $105.57. The firm has a market cap of $46.33 billion, a price-to-earnings ratio of 38.67 and a beta of 0.85.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share 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 analysts' expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company's quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the business earned $1.77 EPS. On average, sell-side analysts predict that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.87%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle's dividend payout ratio (DPR) is presently 221.99%.

About Crown Castle

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.