Crown Castle Inc. (NYSE:CCI) Shares Acquired by Zacks Investment Management

Zacks Investment Management boosted its position in Crown Castle Inc. (NYSE:CCI) by 10.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 314,348 shares of the real estate investment trust’s stock after acquiring an additional 29,441 shares during the quarter. Zacks Investment Management owned 0.07% of Crown Castle worth $37,291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CCI. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle during the third quarter worth approximately $25,000. Asset Dedication LLC boosted its position in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares during the period. Rosenberg Matthew Hamilton raised its holdings 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 buying an additional 136 shares during the period. ORG Partners LLC acquired a new stake in Crown Castle in the second quarter valued at approximately $34,000. Finally, New Millennium Group LLC purchased a new stake in shares of Crown Castle during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target 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. Royal Bank of Canada boosted their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. The Goldman Sachs Group raised their price objective on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Jefferies Financial Group upped their target price on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised their price target 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. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $116.87.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $101.82 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a 50-day simple moving average of $108.50 and a 200 day simple moving average of $107.06. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The company has a market cap of $44.25 billion, a PE ratio of 36.10 and a beta of 0.86.

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

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date is Friday, December 13th. Crown Castle’s payout ratio 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.