Global Retirement Partners LLC Raises Position in Crown Castle Inc. (NYSE:CCI)

Global Retirement Partners LLC increased its holdings in Crown Castle Inc. (NYSE:CCI) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,000 shares of the real estate investment trust’s stock after purchasing an additional 732 shares during the quarter. Global Retirement Partners LLC’s holdings in Crown Castle were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC grew its holdings in Crown Castle by 594.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 15,699 shares of the real estate investment trust’s stock worth $1,661,000 after acquiring an additional 13,439 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Crown Castle by 13.4% in the 1st quarter. International Assets Investment Management LLC now owns 6,926 shares of the real estate investment trust’s stock worth $722,000 after acquiring an additional 821 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in Crown Castle by 9.6% in the 1st quarter. AdvisorNet Financial Inc now owns 2,788 shares of the real estate investment trust’s stock worth $295,000 after acquiring an additional 244 shares during the last quarter. Global Assets Advisory LLC bought a new stake in Crown Castle in the 1st quarter worth $4,425,000. Finally, Gilman Hill Asset Management LLC grew its holdings in Crown Castle by 10.8% in the 1st quarter. Gilman Hill Asset Management LLC now owns 34,083 shares of the real estate investment trust’s stock worth $3,607,000 after acquiring an additional 3,335 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 0.6 %

NYSE:CCI opened at $112.38 on Monday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. The firm has a market capitalization of $48.84 billion, a P/E ratio of 39.85 and a beta of 0.85. Crown Castle Inc. has a one year low of $84.72 and a one year high of $120.92. The company’s 50-day simple moving average is $114.03 and its 200 day simple moving average is $105.14.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) 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%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm posted $1.77 earnings per share. As a group, analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued 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 5.57%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Insider Activity

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle 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 completion of the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CCI shares. UBS Group lifted their target price on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday. BMO Capital Markets lifted their target price on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. lifted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada lifted their target price on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $116.47.

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.