Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Crown Castle Inc. (NYSE:CCI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Crown Castle Inc. (NYSE:CCI) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 262,056 shares of the real estate investment trust’s stock after buying an additional 1,377 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Crown Castle worth $31,088,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Legal & General Group Plc increased its holdings in shares of Crown Castle by 1.1% during the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after acquiring an additional 67,072 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after buying an additional 203,442 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Crown Castle by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,002,934 shares of the real estate investment trust’s stock worth $593,498,000 after acquiring an additional 237,730 shares during the period. National Bank of Canada FI increased its holdings in shares of Crown Castle by 10.7% in the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after purchasing an additional 391,127 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in Crown Castle by 25.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after buying an additional 642,010 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI stock opened at $106.70 on Friday. The firm has a 50 day moving average of $109.66 and a 200-day moving average of $106.98. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market cap of $46.37 billion, a price-to-earnings ratio of 37.84 and a beta of 0.86.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data 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 business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the business earned $1.77 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts expect that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Dividend Announcement

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 given a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.87%. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

Analyst Ratings Changes

A number of research analysts have weighed in on CCI shares. Jefferies Financial Group raised their price objective on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Royal Bank of Canada boosted their price target 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. Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. The Goldman Sachs Group upped their price target on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Finally, Bank of America lifted their price objective on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $116.87.

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.