Global X Japan Co. Ltd. Has $116,000 Holdings in Crown Castle Inc. (NYSE:CCI)

Global X Japan Co. Ltd. decreased its position in Crown Castle Inc. (NYSE:CCI) by 15.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 974 shares of the real estate investment trust’s stock after selling 180 shares during the period. Global X Japan Co. Ltd.’s holdings in Crown Castle were worth $116,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCI. EntryPoint Capital LLC purchased a new position in shares of Crown Castle during the first quarter valued at $27,000. Asset Dedication LLC boosted its position in Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 167 shares during the period. Beacon Capital Management LLC grew its stake in Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 177 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Crown Castle in the 2nd quarter valued at about $34,000. Finally, ORG Partners LLC purchased a new stake in shares of Crown Castle in the second quarter worth approximately $34,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $110.68 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. The firm has a fifty day simple moving average of $114.02 and a 200-day simple moving average of $105.30. The stock has a market capitalization of $48.09 billion, a price-to-earnings ratio of 34.59 and a beta of 0.85. Crown Castle Inc. has a 1-year low of $86.49 and a 1-year high of $120.92.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the business earned $1.77 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. On average, sell-side analysts expect that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.66%. Crown Castle’s payout ratio is 195.63%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CCI shares. JPMorgan Chase & Co. boosted their price objective on shares of 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 upped their price target on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. Barclays upped their target price on Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group lifted their price target on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and an average target price of $116.47.

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.