Thrivent Financial for Lutherans raised its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 7.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,059,300 shares of the real estate investment trust's stock after purchasing an additional 77,135 shares during the period. Thrivent Financial for Lutherans owned approximately 0.24% of Crown Castle worth $125,665,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle in the 3rd quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at $27,000. Rosenberg Matthew Hamilton raised its stake in shares of Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 136 shares in the last quarter. Asset Dedication LLC raised its stake in shares of Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 167 shares in the last quarter. Finally, Beacon Capital Management LLC raised its stake in shares of 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 valued at $30,000 after buying an additional 177 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.
Crown Castle Price Performance
Shares of NYSE CCI traded up $0.88 during trading on Friday, reaching $103.80. The company had a trading volume of 2,293,374 shares, compared to its average volume of 2,270,398. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92. The stock has a market cap of $45.11 billion, a PE ratio of 36.81 and a beta of 0.86. 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 business's 50 day moving average price is $112.05 and its 200-day moving average price is $106.61.
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). 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 for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. The firm's quarterly revenue was down .9% compared to the same quarter last year. Analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current year.
Crown Castle Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 6.03%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle's dividend payout ratio is 221.99%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on CCI. UBS Group increased 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. Citigroup set a $128.00 price objective on shares of Crown Castle in a research note on Thursday, October 17th. Barclays increased their target price on shares of Crown Castle from $116.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Friday, November 1st. The Goldman Sachs Group lifted their price target on shares of Crown Castle from $105.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, September 26th. Finally, Bank of America lifted their price target on shares of Crown Castle from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Crown Castle currently has an average rating of "Hold" and an average target price of $116.87.
Check Out Our Latest Stock Report on CCI
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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