Swedbank AB Buys 898 Shares of Crown Castle Inc. (NYSE:CCI)

Swedbank AB grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,150 shares of the real estate investment trust’s stock after buying an additional 898 shares during the period. Swedbank AB’s holdings in Crown Castle were worth $29,438,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Daiwa Securities Group Inc. lifted its holdings in Crown Castle by 4,097.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock valued at $246,617,000 after purchasing an additional 2,464,094 shares in the last quarter. Bank of Montreal Can raised its position in shares of Crown Castle by 191.7% during the 2nd quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock valued at $195,183,000 after purchasing an additional 1,335,644 shares during the period. Cooke & Bieler LP lifted its stake in shares of Crown Castle by 95.8% during the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after buying an additional 1,261,536 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Crown Castle by 13,271.6% in the 3rd quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after buying an additional 965,907 shares during the period. Finally, National Bank of Canada FI increased its stake in Crown Castle by 10.7% in the 2nd quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock worth $387,333,000 after buying an additional 391,127 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Trading Up 0.6 %

Shares of NYSE CCI opened at $106.08 on Tuesday. Crown Castle Inc. has a 1-year low of $92.48 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The business’s 50 day moving average is $110.32 and its two-hundred day moving average is $106.94. The stock has a market capitalization of $46.10 billion, a P/E ratio of 37.62 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released 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 the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 EPS. As a group, research analysts expect 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. Stockholders of record on Friday, December 13th will be paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Jefferies Financial Group boosted their price objective on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. UBS Group boosted their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Wells Fargo & Company boosted their target price on shares of Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Barclays raised their target price on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $116.87.

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.