Intech Investment Management LLC Invests $518,000 in Crown Castle Inc. (NYSE:CCI)

Intech Investment Management LLC acquired a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,370 shares of the real estate investment trust’s stock, valued at approximately $518,000.

Other institutional investors have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle in the 3rd quarter worth about $25,000. Rosenberg Matthew Hamilton grew its position in Crown Castle by 107.9% during the 3rd 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. Asset Dedication LLC increased its position in shares of Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the period. New Millennium Group LLC purchased a new position in shares of Crown Castle in the second quarter worth about $34,000. Finally, ORG Partners LLC acquired a new stake in Crown Castle during the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CCI. The Goldman Sachs Group raised their price target on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Jefferies Financial Group lifted their price target on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Barclays raised their price objective on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price target on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company boosted their price target on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $116.87.

Crown Castle Stock Performance

Shares of CCI opened at $106.25 on Monday. The company’s 50 day simple moving average is $109.48 and its 200-day simple moving average is $107.09. 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 firm has a market cap of $46.18 billion, a PE ratio of 37.68 and a beta of 0.86.

Crown Castle (NYSE:CCI) last issued its 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 company had revenue of $1.65 billion for 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 quarter in the previous year, the firm posted $1.77 earnings per share. As a group, equities analysts predict that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.89%. Crown Castle’s dividend payout ratio is presently 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.