Crown Castle Inc. (NYSE:CCI) Shares Bought by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC grew its holdings in Crown Castle Inc. (NYSE:CCI) by 3.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,490 shares of the real estate investment trust’s stock after buying an additional 607 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Crown Castle were worth $2,083,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Pinnacle Bancorp Inc. raised its position in shares of Crown Castle by 13.0% in the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 90 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Crown Castle by 2.4% in the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 91 shares during the last quarter. Prosperity Consulting Group LLC increased its position in Crown Castle by 4.4% during the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 95 shares during the last quarter. True North Advisors LLC increased its position in Crown Castle by 4.2% during the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC increased its position in Crown Castle by 0.5% during the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock worth $1,899,000 after purchasing an additional 100 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCI has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Wells Fargo & Company raised their price objective on shares of Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. UBS Group raised 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. Royal Bank of Canada raised their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Finally, Citigroup set a $128.00 target price on shares of Crown Castle 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. According to MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus target price of $116.87.

Crown Castle Trading Down 1.2 %

NYSE CCI opened at $103.44 on Thursday. The firm has a 50 day simple moving average of $108.73 and a 200-day simple moving average of $107.09. 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 Inc. has a one year low of $92.48 and a one year high of $120.92. The firm has a market cap of $44.96 billion, a price-to-earnings ratio of 36.68 and a beta of 0.86.

Crown Castle (NYSE:CCI) last issued 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 firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business earned $1.77 EPS. Equities research analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.05%. Crown Castle’s dividend payout ratio (DPR) is 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.