Crown Castle Inc. (NYSE:CCI) Stake Boosted by Transcendent Capital Group LLC

Transcendent Capital Group LLC increased its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 5,397.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,652 shares of the real estate investment trust's stock after purchasing an additional 6,531 shares during the quarter. Transcendent Capital Group LLC's holdings in Crown Castle were worth $789,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Van ECK Associates Corp grew its stake in Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust's stock worth $17,476,000 after buying an additional 31,319 shares during the last quarter. BOKF NA increased its holdings in shares of Crown Castle by 25.6% in the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust's stock worth $417,000 after acquiring an additional 815 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Crown Castle by 30.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust's stock valued at $3,789,000 after purchasing an additional 8,346 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Crown Castle by 21.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 517,964 shares of the real estate investment trust's stock valued at $54,816,000 after purchasing an additional 91,404 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Crown Castle by 64.5% during the 1st quarter. Russell Investments Group Ltd. now owns 627,544 shares of the real estate investment trust's stock valued at $66,402,000 after purchasing an additional 246,043 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCI. Royal Bank of Canada lifted their price target on Crown Castle from $104.00 to $109.00 and gave the company a "sector perform" rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Crown Castle from $103.00 to $105.00 and gave the company a "hold" rating in a research note on Tuesday, July 23rd. Bank of America increased 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. Citigroup set a $128.00 price target on Crown Castle in a report on Thursday, October 17th. Finally, Jefferies Financial Group upped their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Crown Castle currently has a consensus rating of "Hold" and an average price target of $116.87.

Crown Castle Trading Up 1.6 %

Shares of NYSE CCI traded up $1.64 during mid-day trading on Friday, hitting $105.85. 1,606,701 shares of the company traded hands, compared to its average volume of 2,346,726. The business has a 50 day moving average of $113.12 and a two-hundred day moving average of $106.23. The stock has a market capitalization of $46.00 billion, a price-to-earnings ratio of 37.54 and a beta of 0.86. 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 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI - Get Free Report) last announced its 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 firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the business earned $1.77 earnings per share. The business's quarterly revenue was down .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.91%. Crown Castle's payout ratio is currently 221.99%.

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.