Brooklyn Investment Group Boosts Stock Position in Crown Castle Inc. (NYSE:CCI)

Brooklyn Investment Group lifted its position in Crown Castle Inc. (NYSE:CCI) by 15.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,497 shares of the real estate investment trust’s stock after purchasing an additional 617 shares during the quarter. Brooklyn Investment Group’s holdings in Crown Castle were worth $408,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new position in Crown Castle during the 3rd quarter worth approximately $25,000. Rosenberg Matthew Hamilton raised its holdings in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. FNY Investment Advisers LLC lifted its position in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Crown Castle during the third quarter valued at $47,000. Finally, Friedenthal Financial purchased a new stake in Crown Castle in the third quarter valued at $50,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of recent research reports. TD Cowen reduced their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada lifted their price target on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. upped their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $117.00 to $104.00 in a report on Monday, January 13th. Finally, Citigroup set a $128.00 price target on shares of Crown Castle in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.00.

Crown Castle Stock Up 0.4 %

CCI opened at $91.03 on Friday. The company has a market cap of $39.56 billion, a PE ratio of 32.28 and a beta of 0.87. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a 50-day moving average price of $96.96 and a 200 day moving average price of $105.57. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

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 firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the business earned $1.77 EPS. The business’s revenue was down .9% compared to the same quarter last year. Sell-side analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.88%. 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.