Rosenberg Matthew Hamilton Buys 136 Shares of Crown Castle Inc. (NYSE:CCI)

Rosenberg Matthew Hamilton increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 107.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262 shares of the real estate investment trust’s stock after purchasing an additional 136 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Crown Castle were worth $31,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CCI. Financial Advocates Investment Management increased its holdings in shares of Crown Castle by 3.7% during the third quarter. Financial Advocates Investment Management now owns 4,967 shares of the real estate investment trust’s stock worth $589,000 after buying an additional 176 shares in the last quarter. Oak Harvest Investment Services acquired a new position in shares of Crown Castle in the third quarter valued at approximately $1,542,000. SteelPeak Wealth LLC lifted its holdings in shares of Crown Castle by 239.5% during the third quarter. SteelPeak Wealth LLC now owns 10,840 shares of the real estate investment trust’s stock worth $1,286,000 after purchasing an additional 7,647 shares during the period. Pathway Financial Advisers LLC boosted its holdings in Crown Castle by 592.9% in the third quarter. Pathway Financial Advisers LLC now owns 26,810 shares of the real estate investment trust’s stock valued at $3,180,000 after acquiring an additional 22,941 shares during the last quarter. Finally, Integrated Advisors Network LLC boosted its holdings in Crown Castle by 24.5% in the third quarter. Integrated Advisors Network LLC now owns 5,027 shares of the real estate investment trust’s stock valued at $596,000 after acquiring an additional 988 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Bank of America boosted their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. TD Cowen decreased their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. UBS Group boosted their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group raised their target price on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. 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 stock currently has an average rating of “Hold” and an average target price of $116.80.

Crown Castle Stock Down 0.3 %

Shares of NYSE:CCI opened at $107.50 on Friday. The stock has a market cap of $46.72 billion, a price-to-earnings ratio of 38.12 and a beta of 0.85. The business’s 50 day moving average is $113.89 and its 200 day moving average is $105.67. Crown Castle Inc. has a 12-month low of $90.81 and a 12-month high of $120.92. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) 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 firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the firm earned $1.77 earnings per share. Crown Castle’s revenue was down .9% compared to the same quarter last year. On average, sell-side analysts forecast that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.82%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

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.