Mirador Capital Partners LP Purchases 137 Shares of Crown Castle Inc. (NYSE:CCI)

Mirador Capital Partners LP grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,760 shares of the real estate investment trust’s stock after acquiring an additional 137 shares during the period. Mirador Capital Partners LP’s holdings in Crown Castle were worth $327,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in Crown Castle in the fourth quarter worth $25,000. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle in the 1st quarter worth about $27,000. Asset Dedication LLC boosted its stake in shares of Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in shares of Crown Castle during the fourth quarter valued at about $30,000. Finally, Beacon Capital Management LLC raised its stake in Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 177 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the sale, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by insiders.

Crown Castle Trading Down 2.5 %

Shares of NYSE CCI opened at $111.48 on Friday. The firm’s 50 day moving average price is $113.83 and its 200-day moving average price is $104.55. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $120.92. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $48.45 billion, a PE ratio of 34.84 and a beta of 0.85.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 EPS. On average, equities research analysts expect that Crown Castle Inc. will post 6.64 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.62%. Crown Castle’s payout ratio is 195.63%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted 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. JPMorgan Chase & Co. lifted their price target on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. BMO Capital Markets increased their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. TD Cowen boosted their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada upped their target price on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $115.40.

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.