Prestige Wealth Management Group LLC Has $691,000 Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Prestige Wealth Management Group LLC raised its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 1,817.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,829 shares of the real estate investment trust's stock after acquiring an additional 5,525 shares during the period. Prestige Wealth Management Group LLC's holdings in Crown Castle were worth $691,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle in the 3rd quarter valued at approximately $25,000. Rosenberg Matthew Hamilton increased its position in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 136 shares in the last quarter. Asset Dedication LLC raised its holdings in shares of Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 167 shares during the period. New Millennium Group LLC bought a new stake in Crown Castle in the 2nd quarter valued at $34,000. Finally, ORG Partners LLC acquired a new position in Crown Castle in the 2nd quarter worth $34,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Performance

Shares of NYSE CCI traded down $0.93 during trading hours on Tuesday, reaching $101.07. 1,801,204 shares of the stock were exchanged, compared to its average volume of 2,612,003. The stock's fifty day simple moving average is $107.87 and its 200 day simple moving average is $107.18. The firm has a market capitalization of $43.93 billion, a price-to-earnings ratio of 36.19 and a beta of 0.86. 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.

Crown Castle (NYSE:CCI - Get Free Report) last released 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 net margin of 18.59% and a return on equity of 20.98%. 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 company posted $1.77 earnings per share. The company's revenue was down .9% on a year-over-year basis. Sell-side analysts predict that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.19%. The ex-dividend date is Friday, December 13th. Crown Castle's dividend payout ratio is currently 221.99%.

Analysts Set New Price Targets

CCI has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective 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. UBS Group boosted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Wells Fargo & Company lowered shares of Crown Castle from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $105.00 to $100.00 in a research note on Tuesday. Finally, Bank of America lifted their target price on Crown Castle from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $116.53.

Crown Castle 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.