Intact Investment Management Inc. Has $13.06 Million Position in Crown Castle Inc. (NYSE:CCI)

Intact Investment Management Inc. boosted its position in Crown Castle Inc. (NYSE:CCI) by 15.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 110,100 shares of the real estate investment trust’s stock after buying an additional 14,600 shares during the quarter. Intact Investment Management Inc.’s holdings in Crown Castle were worth $13,061,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. lifted 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 worth $93,000 after purchasing an additional 90 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in Crown Castle by 2.4% during the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after buying an additional 91 shares in the last quarter. Prosperity Consulting Group LLC boosted its stake in shares of Crown Castle by 4.4% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 95 shares during the last quarter. True North Advisors LLC increased its position in shares of Crown Castle by 4.2% in the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC increased its position in shares of Crown Castle by 0.5% in the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. TD Cowen lowered their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. UBS Group boosted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Bank of America raised their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $116.87.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $107.65 on Monday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. The firm has a market cap of $46.78 billion, a price-to-earnings ratio of 37.79 and a beta of 0.86. The stock’s fifty day moving average price is $113.78 and its two-hundred day moving average price is $105.91. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.03). The business 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 company’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the company posted $1.77 earnings per share. On average, equities analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

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

About Crown Castle

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.