Intact Investment Management Inc. Increases Stock Position in Crown Castle Inc. (NYSE:CCI)

Intact Investment Management Inc. grew its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 15.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,100 shares of the real estate investment trust's stock after purchasing an additional 14,600 shares during the quarter. Intact Investment Management Inc.'s holdings in Crown Castle were worth $13,061,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CCI. EntryPoint Capital LLC purchased a new stake in Crown Castle in the first quarter valued at about $27,000. Asset Dedication LLC boosted its position in Crown Castle by 159.0% in 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 in the last quarter. Beacon Capital Management LLC boosted its position in Crown Castle by 163.9% in 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 in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 136 shares during the period. Finally, ORG Partners LLC purchased a new position in shares of Crown Castle during the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a "market perform" rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Crown Castle from $103.00 to $105.00 and gave the company a "hold" rating in a report on Tuesday, July 23rd. The Goldman Sachs Group upped their target price on Crown Castle from $105.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, September 26th. Barclays increased their target price on Crown Castle from $116.00 to $117.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, UBS Group boosted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of "Hold" and an average price target of $116.87.

Crown Castle Price Performance

Shares of Crown Castle stock traded up $1.78 on Monday, hitting $108.36. 1,975,437 shares of the company were exchanged, compared to its average volume of 2,617,326. Crown Castle Inc. has a 1-year low of $92.48 and a 1-year high of $120.92. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market capitalization of $47.09 billion, a price-to-earnings ratio of 38.16 and a beta of 0.86. The company has a 50-day moving average price of $113.78 and a 200 day moving average price of $105.91.

Crown Castle (NYSE:CCI - Get Free Report) last released 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 analyst estimates of $1.64 billion. During the same period last year, the firm posted $1.77 EPS. The business's quarterly revenue was down .9% on a year-over-year basis. As a group, sell-side analysts predict that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.78%. Crown Castle's payout ratio is 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.