Bleakley Financial Group LLC Raises Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Bleakley Financial Group LLC lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,554 shares of the real estate investment trust’s stock after purchasing an additional 117 shares during the quarter. Bleakley Financial Group LLC’s holdings in Crown Castle were worth $777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Pinnacle Bancorp Inc. lifted its position in Crown Castle by 13.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 90 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in Crown Castle by 2.4% in 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 during the last quarter. Prosperity Consulting Group LLC lifted its position in Crown Castle by 4.4% in 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 lifted its position in Crown Castle by 4.2% in the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its position in Crown Castle by 0.5% in the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock worth $1,899,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of a number of recent research reports. Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday. Bank of America boosted their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Finally, 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 report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $116.47.

Crown Castle Price Performance

CCI opened at $110.19 on Tuesday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.43 and a current ratio of 0.54. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $120.92. The stock has a market capitalization of $47.89 billion, a PE ratio of 39.07 and a beta of 0.85. The stock’s 50 day moving average price is $114.02 and its 200-day moving average price is $105.20.

Crown Castle (NYSE:CCI) last issued its quarterly 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). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 earnings per share. On average, equities research analysts predict that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.68%. Crown Castle’s payout ratio is 221.99%.

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.