Adelante Capital Management LLC Has $5.25 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Adelante Capital Management LLC boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 207.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,259 shares of the real estate investment trust’s stock after purchasing an additional 29,883 shares during the quarter. Adelante Capital Management LLC’s holdings in Crown Castle were worth $5,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Catalyst Capital Advisors LLC bought a new stake in shares of Crown Castle in the third quarter valued at approximately $25,000. Rosenberg Matthew Hamilton lifted its position 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 valued at $31,000 after acquiring an additional 136 shares during the period. Asset Dedication LLC lifted its position in shares of Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the period. New Millennium Group LLC acquired a new stake in shares of Crown Castle during the 2nd quarter worth $34,000. Finally, ORG Partners LLC acquired a new position in Crown Castle in the second quarter valued at about $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 0.4 %

Shares of NYSE CCI opened at $106.25 on Friday. 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 firm has a market cap of $46.18 billion, a PE ratio of 37.68 and a beta of 0.86. The company has a 50 day simple moving average of $109.48 and a 200 day simple moving average of $107.07.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. On average, research analysts forecast that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.89%. Crown Castle’s payout ratio is 221.99%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. TD Cowen reduced their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. UBS Group boosted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Citigroup set a $128.00 target price on Crown Castle in a research note on Thursday, October 17th. Finally, Jefferies Financial Group lifted their price target on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $116.87.

Crown Castle Company 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.