Crown Castle Inc. (NYSE:CCI) Shares Bought by Barnett & Company Inc.

Barnett & Company Inc. increased its position in Crown Castle Inc. (NYSE:CCI) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,540 shares of the real estate investment trust’s stock after acquiring an additional 1,100 shares during the period. Barnett & Company Inc.’s holdings in Crown Castle were worth $1,369,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Aptus Capital Advisors LLC raised its stake in shares of Crown Castle by 9.3% during the third quarter. Aptus Capital Advisors LLC now owns 3,960 shares of the real estate investment trust’s stock valued at $470,000 after purchasing an additional 336 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in shares of Crown Castle by 10.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 7,419 shares of the real estate investment trust’s stock valued at $880,000 after buying an additional 673 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Crown Castle by 1.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 864,421 shares of the real estate investment trust’s stock valued at $102,546,000 after purchasing an additional 10,426 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Crown Castle in the third quarter worth about $245,000. Finally, GSA Capital Partners LLP purchased a new position in Crown Castle during the 3rd quarter worth approximately $522,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Performance

NYSE:CCI traded down $1.76 during trading hours on Tuesday, hitting $102.34. 406,194 shares of the company traded hands, compared to its average volume of 2,600,565. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. The firm has a 50-day moving average of $112.96 and a 200 day moving average of $106.37. The stock has a market capitalization of $44.48 billion, a price-to-earnings ratio of 36.91 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the business posted $1.77 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.12%. Crown Castle’s dividend payout ratio is currently 221.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. BMO Capital Markets increased their price target on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Barclays boosted their price objective on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Bank of America increased their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, UBS Group boosted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.